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Adding Raytheon

|Includes: Raytheon Company (RTN)

Today I added Raytheon to the Synthetic Dividend Growth Portfolio, long Jan 2015 57.5 calls, short Jan 2014 77.5 calls. Too bad I didn't do it earlier, before earnings, which have juiced it a bit today, to a 52 week high.

I like the dividend, over 3%, and the P/E, 12.

Another adjustment, I rolled Jan 2015 LEAPS on General Mills (NYSE:GIS) from 40 to 42, reflecting my preference to keep the strike on the long positions at about 80% of the share price.

Disclosure: I am long GIS, RTN.