Still holding...

Scalped a few trades with SPY DEC 75's today. Still holding. I will most likely exit 50-75% of my position as we near 80. The rest I will scale out as we go lower or higher.

After that I will start building a call position, most likely starting in the middle of next week, but really depends on how the market plays out.

Any call position I build now will be using Jan 09 calls. After I exit my current position, I will only use Dec options for day trades.