Sell Mar 67.5 puts
Sell Mar 90 calls
A short strangle is a bet on a trading range for Anadarko Petroleum. There is chart support at 70 and resistance at 90. APC is the largest holding in FRAK, the oil fracking ETF.
I also buy LEN Lennar Homes via selling Feb 36 puts @40.7. Their earnings were solid, though the stock dipped during the conference call. Some folks like to think of selling puts as placing a GTC buy order at that strike and getting paid for it, if the stock never falls to that level.
Boeing has been all over the news and my position is in the red. News happens, and sometimes it is bad news.
Long BA GPS IWM LEN LGF MON UNP XRT
Net long APC