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Offer extended through Friday (9/3).
We hold four Sep 84-May 84 calendar spreads for 3.45 and a September 76 put for 1.49. The May calls that we are short are showing surprising strength, so that we have only a small paper gain on the spread that is more than offset by the loss on the put. However, there is nearly $600 of theoretical profit potential between now and next Friday if DIA is trading around 84 at that time, so we’ll simply sit with the position for now. To simplify the accounting, we’ll impute a total loss on the put to our spread price, raising its cost basis to 3.82.
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