We’re offering a December 90 call short for 1.80 against a January 90 call acquired earlier for 2.34. My rally target for IBM over the near term is 88.21, at which point the December 90 call could be trading for as much as 2.10. Keep your bulletin launcher switched on today, since I may advise switching to shorting a December 85 call if it looks like it could pop above $5. The stock seemed tired at the close, but it’s conceivable that it might pop for another $1.50-$2 before taking a well-earned rest.