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Friday, June 7, 2013
Long SPY calls
Entered into SPY 152 Jun 22 calls at 10.02 basis and SPY Jun 154 calls at 6.2 basis.
Was fairly underwater yesterday about 10% before the afternoon rally.
We are oversold and unless the jobs number is extreme, we have a strong chance at a 3+ day rally.
Target is 166ish for price and latest end of next week to exit the positions.