10/27/17 was up +0.16 and the model projects that the component on Friday's kill will up between +0.35 and +0.65. The ZZZs are trading discount to the component by -4.54. I believe that is enough of a discount to be mildly supportive of the price of the ZZZs so I am long a few ZZZs and short an equal number of 67 calls to give me a little down side protection in the event there is some sell-off of the ZZZs.

Best wishes,

dhm