Entered a 4-week calendar P115 spread on FFIV today @ $0.78-$0.80. Long August 21, short July 24.
During the April 2015 cycle, we entered a 3-week spread for $0.85 & $0.85, and exited at a loss for $0.77 & $0.73
The current 3-week spread trades at $0.57 now, which hints that prices are low.
I bought the 4-week spread to have better liquidity using the Aug monthly options.