MSFT has been heading downward so I am adding a bottom calendar to give me some downward protection.
Today I added this calendar:
BOT CALENDAR MSFT OCT 08/JUN 08 27 PUT @1.10 debit
On 5/14/08 I entered the trade as below:
BOT CALENDAR MSFT OCT 08/JUN 08 30 PUT @1.09 debit
So now my adjusted cost basis= 1.10+1.09= $2.19
Now my position is delta neutral with good theta on my side for my short legs.
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