The April 115 calls were an easy sale yesterday for 3.80, and so we are now long the July 115-April 115 calls spread twice for 6.00 and short an extra April 115 call for 3.80. This position is bullish and yields a theoretical profit over a very wide range of prices between $90 and around $130.  Our maximum gain of about $2,200 would come with the stock trading at 115 when the April calls expire.  This not a position we’ll need to worry about, but we may try to lock in a far-out-of-the-money strangle — two April 130 calls versus two April 90 puts — at prices that would ensure that no loss is possible. Let’s do so by bidding 1.80 for the puts (symbol: GSPR) and 0.80 for the calls, both good through next Friday. If the droolers who have been buying this stock push it to $115, especially after the March calls expire, wait till you see how quickly our calendar spread widens. We would likely take the money and run at that point rather than waiting till the April expiration for maximum gains.