Had a nice 385/435 strangle for next week that was winding down quite nicely (sold for 5.70). Still looks decent but I’m gonna jump on the bullish Ackman train (gulp!). Closing next week’s put and selling a higher put this week for additional credit. Hoping to get long the stock to turn next week’s call into a covered position…

Bought to Close CMG SEP 16 2016 385.0 Put @ .40
Sold to Open CMG SEP 9 2016 435.0 Put @ 5.20

If this week’s put expires I’ll sell it again next week. If the stock continues up I’ll have to look at rolling the call and continuing to sell aggressive puts to get long. Total premium received so far of 10.90…