Close KORS Puts and BAC Calls for total gain of 142%

Michael Kors isn't performing well and we are going to lock in profits on the short puts.  We are buying back the Feb $70 Puts for $1.35 today, which we sold for $1.90 on Nov 20, for a net gain of 29%.  Last Friday we sold the Feb $82.50 Calls for a 4% gain, for a total of 33% return on this trade from the short put and long call.

We are also selling our March $16 Bank of America Calls today for $1.00.  We bought these on 12/17 for .47 cents, and we made a net profit of 113% on this trade.

We may get back into the BAC position if the stock pulls back from recent gains.