It looks like it is gong to be a big down opening Friday as the market was defintly overbought
and the Greek situation just got kicked down the road if at all.
we are adding the following spreads to our February recommended list.
We are recommending credit spreads to complete iron condors and an iron butterfly on several of our positions.
Bear credit spreads = bearish call spreads.
We will be adding a put spread on MON to complete an iron butterfly on MON.
This means we will have to close out either the call or the put side at expiration.
since the strike price on the short call and the short put are both 80, creating the butterfly spread, if we get filled
We are recommending the following specific call spreads on JOY and OXY to create iron
condors on both of these positions.