We filled two (2) call credit spreads today: JWN and TM
We are also adding the following put spread on NEM.
This transaction will make our new net position on NEM an iron BUTTERFLY.
This trade will require a around $500 additional margin requirment because
our call spread has only a 3.5 point spread difference and our NEM new put spread will
have a $4 point spread difference, which is $0.50 more or $500 for 10 contracts.
We are rolling the following specific put options to complete the roll up of our put
position and creating an iron buterfly on NEM.