rknight52 6:54 am on Friday, May 27, 2016

$PANW ??? what to do ???

To roll or not to roll, that is the question (or at least one question)!!!
My 135/130 put spread for today is now underwater. Close now or wait until early afternoon? Try to roll out? I do think that ultimately PANW will recover and go higher as it is the leader in the space, but it has been on a downward hike since April.
Any thoughts from those who are also underwater (or those not)?

Jeff 6:56 am on Friday, May 27, 2016

I will likely take some stock if there’s no recovery today. It’s being slammed now, wringing out the nervous longs. Could sell the long early, to give yourself a better cost basis, but picking the timing is tough.
- rknight52 7:00 am on Friday, May 27, 2016
  
  Hoping the low (129.19 thus far) is already in and that it will rebound some during the day. I’m gonna wait until early afternoon before closing the spread unless it really rebounds above 135.
- Jeff 7:01 am on Friday, May 27, 2016
  
  My cost basis if assigned will be 134.00. That’s assuming it ends the day above 130.00. Below 130, my cost basis will drop by the amount it ends the day below 130.00. (Remember I sold an extra 140 put, being bullish, so my cost basis is worse than anyone who just took the condor).
  - rknight52 7:12 am on Friday, May 27, 2016
    
    I’m at 133.60 if assigned. I will get out for the loss instead of assignment as I don’t need the stock.
Jeff 7:11 am on Friday, May 27, 2016

Sold to close one of my 130p for 1.55. This will lower my cost basis if I’m assigned. I’m keeping the other one for now incase 129 is NOT the bottom for the day.