Two weeks ago, with DIA trading around 177, subscribers acting on my instructions bought 16 March 27/Feb 27 185 calendar spreads for 0.48. The rally since has nearly doubled the value of the spread, and so I’ve advised selling ten of them so that you still hold six spreads, effectively for no cost. Now, bid 0.01 to cover the short Feb 27 calls. If successful, we’ll hold six ‘free’ March 27 185 calls for a swing at the fence.  If you are able to buy back the calls, offer six March 27 187 calls short for 2.00, good till further notice. ______ UPDATE (March 2): We continue to hold six March 27 185 calls effectively for nothing. Filling the short offer is unlikely at the moment, but you should keep trying, since the sale carries no risk. _______ UPDATE (March 2, 7:41 p.m.): It would take a rally of a little more than 300 points, to around 18600, to get us filled, but we can afford to be patient for a while longer. True, our ambitious goal will grow more difficult as time premium erodes the value of the March 27 187 calls we’re trying to sell short. But if the pace of the rally slows, we can always just cash out of the calls we continue to hold. They are currently trading for 0.70, implying a $420 paper profit on the position. ________ UPDATE (March 9): With no risk in the position and 18 days to go, we’ll go for broke.