IBM 100 JUL 09/JUN 09 105/100/105/100 CALL/PUT/CALL/PUT @3.20 ISE, IBM MARK 104.3725,
Reason: IBM is in the 100-105 trading range. IV is lowBreakEvens: 98 - 107. If IV was higher I would have done the Iron Condor.
Adjust when reach near breakeven points
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