<a href=”http://www.rickackerman.com/wp-content/uploads/2014/12/Four-day-rally-has-allowed-subscribers-to-leg-into.jpg”><img class=”alignleft size-thumbnail wp-image-67037″ title=”Four-day rally has allowed subscribers to leg into” src=”http://www.rickackerman.com/wp-content/uploads/2014/12/Four-day-rally-has-allowed-subscribers-to-leg-into-122×67.jpg” alt=”” width=”122″ height=”67″ /></a>A fourth straight day of strength allowed subscribers to complete the second and final leg of a $3 vertical call spread Tuesday on very favorable terms. Earlier, when TLT bottomed last week within 23 cents of a 122.70 correction target, subscribers were able to buy 16 Jan 30 126 calls for 0.80. With yesterday’s rally to 126.21, the short sale of Jan 30 129 calls for the same price, 0.80, was easily accomplished. This position gives holders a shot at a $4800 gain with TLT trading 129 or higher come January 30.  If TLT is merely trading 126 or higher, the profit would come at $1600 per point. Since we effectively paid nothing for the spread no loss is possible, even if TLT plummets in the weeks ahead. For now, do nothing further. <strong>________ UPDATE</strong> (January 5, 11:29 p.m. EST):<em> TLT has had quite a move since subscribers bought Jan 30 126 calls for 0.80 — the first leg of a vertical call spread. For now, offer half the spreads to close for 1.90. good till canceled.</em>