Occasionally we benefit when we cast our lot with the scumballs who fill market orders on the opening rotation.  Such was the case yesterday, when we exited a single August 68 put for 3.76 — the high of the day — off a 3.50 offer. The purpose of this gambit had been to make  enough to pay for a year’s subscription to Rick’s Picks, and to do so using a strategy simple enough for traders of all levels of experience to employ.  This we did, producing a theoretical gain sufficient to cover the price of a renewal — with enough left over to buy yourself a decent cigar.  Let’s plan on doing it again soon — i.e., if and when this vehicle comes down to 63.63, 10 cents above the ‘D’ target of the pattern shown.  Bid there for four June 65 calls, but stop yourself out if they trade for 20 cents less than you paid. ______ UPDATE (2:14 p.m. EDT):  The 63.53 target shown in the chart was a bullseye.  As a result, we were able to buy four June 65 calls a few pennies off the low.  I’ll use 1.03, the highest price reported in the chat room, as our cost basis. For now, offer two of the calls to close for 1.22, day order.