We hold two January 60 calls purchased on Friday for 2.55. As is our usual practice, we’ll try to nail down a partial profit as soon as possible, closing out one of the calls at-the-market on Monday’s opening. Officially, we’ll simply hold onto the other half of the position. However, if you bought more than two contracts and are qualified to carry a naked-short position, I’ll recommend shorting January 65 calls in a 3:2 ratio. If you work the numbers at expiration, you’ll see that this modest ratio would yield a profit, or at least no loss, over a very wide range of prices. _______ UPDATE: We’ll stick with our plan, since Sunday night’s histrionics could help us get top dollar for the call option when stocks open Monday morning. ______ FURTHER UPDATE: We got the worst price of the day for our call — a reminder of why we should never, ever use market orders on the opening, when rape is an honored custom among the market-makers. Even so, the price was 0.85 more than we paid, and so it will reduce the cost basis of the call we still hold to 1.70. Now, you can offer it to close for 4.30, good-till-canceled.