. >> i was looking at the may-september 155 call spret.basically the option's market is em employing a 4% move. >> facebook's retreated from those highs since then but mike's trade still intact. mike, what are you doing? >> this is basically the perfect setup, a situation where the stock is treading water or if it had gone up a bit because of the option we sold is going to the k. in this case it's only worth 12 cents. we can cover that. we can sell a june 159 call and roll out our calendar. i think that's the way you play this. >> we have the earnings-related pop and then we've given that back. i think you've got support on a minor basis and you've got site. >> this is what you want to do, they were elevated. we're not playing for an explosion. you're setting up to own a longer dated call and that helped finance the purchase. i love the idea of continuing to roll this thing. at some point obviously the stock is going to sell here like 150. it can continue to do something for a while. the longer dated one has a potential catalyst. june does