Just yesterday (January 19, 2016), we issued a “Buy’ recommendation on iShares 20+ Year Treasury Bond (TLT) February $130 calls (TLT160219C00130000). Given the market’s move lower today, we are seeing the calls pop rather quickly. Currently, the TLT February calls are trading at $1.19 vs. our buy-in price of $0.65. That quick, one-day jump is one that I don’t want to ignore even though I see more pain ahead for the market as we navigate through December quarter earnings, the oil price drop fallout and additional economic data pointing to a slowing global economy. Therefore, we recommend investors sell half of the TLT February $130 call position, booking about an 83% gain in less than a day’s time. Leave the balance of the calls intact to capture additional potential upside.