The market continues its slow grind higher on very low volatility as we await the Fed announcement this week. We continue to position for a cautiously bullish view while taking into account the downside risks. We take this opportunity to protect profits on our long positions.
- BK – 35% Gain: Long Apr 26 51.5/56.5 Call Verticals @ $2.71
- BXP – 5% Loss: Long Apr 18 130/140 Call Verticals @ $3.65
- MAC – 11% Gain: Long Apr 18 40/45 Put Vertical @ $2.60