Because IBM could waft as high as 94.44 in the days ahead, let’s try to leverage this possibility as cheaply and risklessly as possible, bidding 1.80 for the Feb 95-Jan 95 call spread (IBMBS/IBMAS), good-till-canceled. If an intraday opportunity to leg into the spread at our price or better should materialize, I’ll put out guidance in real time. You can be alerted via a screen pop-up simply by clicking on “Launch Bulletins” in the column at left. FYI, legging into the spread would imply doing the “buy” side (i.e., buying the Feb 95 call) when the stock is at a minor rally target. _______ UPDATE: The spread opened for 1.40 but was easily do-able thereafter for 1.50, so we’ll use the higher price to establish a cost basis for our calendar spread. I am not sure why TradeStation reflected a 1.80 offer for the spread at Tuesday’s close, but it may be because, after the close when prices are no longer updating, the application’s OptionStation Analysis can be buggier than a whorehouse mattress.