#Earnings While selling naked is preferred with a large account, using spreads can give you an effectively naked position… you don’t have to wait for expiration and just take the loss if your spreads end up completely ITM.

Sold partial $LOW stock position for 77.25. Assigned vis 81.5 puts Wednesday night with a 77.10 cost basis.

Also, sold one of my remaining 79.5 puts for 2.25. Will be assigned tonight via my 81.5 puts, cost basis on that batch will be 77.34.

By selling your ITM long puts, you leave yourself to be assigned on your newly naked puts, but at a very low cost basis. I’ve already exited some of the trade with a small profit… will wait for more recovery to take better profits on the rest of the stock.