WFR - MEMC Electronics is bouncing nicely off its 200 exponential moving average. While we have been using the 200 simple for most of the analysis I will take whatever I can get on this one. For those of you with me on the position, the put was giving more room due to selling the 95 calls. Hindsight would have us out at the strike and reselling the 65s yesterday. But here we are with the stock up 4 points. I am closing the 75s and selling the 70s. This is most efficiently done by executing the 75/70 debit put spread for about $1.95 per contract. Then adjust the 95 call to the 85 strike for April by selling the 95/85 Call spread for a credit of $0.70 per contract. This move locks the position into a 15 point range for the next 3 weeks. You could wait to see if the stock breaks above the 50 DMA at 76.57 to adjust the position. I'm not waiting though. The strangle position is currently down $10 on one contract. Good luck!