TRADE ROLL

Rio Tinto (RIO):  64.13

We have a 17 Nov 60 call expiring tomorrow that we will need to roll. The RIO stock price is down about 2.5% today giving us a chance to roll out our calls another month.

ACTION:  Roll RIO 17 Nov 60 call to the Rio 16 Dec 60 call for a net credit of around 1.35 and a 2.2% return

Buy to close RIO 17 Nov 60 call

Sell to open RIO 16 Dec 60 call

TRADE ROLL

Williams Companies (WMB):  32.81

Oil and gas company stocks have traded higher for the last month. The coming colder winter weather usually boosts natural gas prices which would benefit Williams. However, we are seeing a cooling off of their stock price the last few days giving us a chance to roll our calls out before the stock goes ex-dividend on 12/8.

ACTION: Roll WMB 18 Nov 32 call to the 2 Dec 32 call for a net credit of around 0.35 and a 1% return

Buy to close WMB 18 Nov 32 call

Sell to open WMB 2 Dec 32 call