Compton Advisors, LLC

This Blog is a parallel site to our web site www.comptonadvisors.com. It contains notes, observations, thoughts and links.

Wednesday, September 24, 2008

Proposed Transaction

I will take a long option strangle position on S&P Depository Receipts (SPY) for October '08 expiration after 2:30 pm Central September 25, 2008 contingent on the following:

1) No announcement of congressional agreement or rejection of the proposed $700 billion Treasury-led bail-out of the financial markets

2) Total option cost (excluding commission & fees) < 1.5% of SPY market price at time of order

Strike prices will be at least 10% less (put) and 10% higher than the SPY market price at time of order.

Labels:

0 Comments:

Post a Comment

<< Home