Yesterday:

Sold weekly PCLN 1305/1355/1355/1405 iron fly @ 42.00. Risking 8 to make 42

Obviously stock blasted through the entire call side so by the close today that side would be at full 50 loss unless there is a massive pullback. At the open today my goal was to close that side for anything less than 50. Anything less than 50 would reduce max loss by that amount. Managed to close the call side for 48.50, reducing max loss down to 6.50. Then, sold a weekly 1405 put for 2.00. Watching that now…if it expires max loss would then be reduced to 4.50. Not bad for an awful trade. Combined with all the other earnings plays so far it’s been a banner earnings season.

I’m now a PCLN bull for the day! LOL