update to $VLO Options Action trade - mike

26 oct - mike again with a tweet to update a trade adjustment, this Dec 36 call is going for .14 now so huge loser so far with 2 months to go, per mike:

Michael C. Khouw

Also converting the VLO into a risk reversal, selling the Dec 27 puts @ 1.05, stk has come in significantly.

if stock stays above 27 at opex it will salvage the position for small profit at least. note that now you have to commit margin/buying power to cover these short puts which are getting put on to salvage a defined risk call purchase. (adding risk to position)

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5oct - a bit late posting this so will keep it brief, mike with a simple buy upside call strategy on VLO, heres the video VLO clip

buy the Dec 36 call for .95

mikes on-air trades in google docs spreadsheet