Almost a #PerpetualRollingStrangles position but not really. Just a great stock for premium selling…continuing to sell against ITM calls.
The power of the volatility collapse…even though the stock moved 9 or 10 dollars against my short puts was able to get out of them virtually even. Then was able to go out another week and sell into the drop at lower strikes.
Bought to Close WYNN JUL 28 2017 133.0 Put @ 3.20 (sold for 3.30)
Bought to Close WYNN JUL 28 2017 134.0 Put @ 3.80 (sold for 3.81)
Bought to Close WYNN JUL 28 2017 135.0 Put @ 4.80 (sold for 4.29)
So…lost 40 bucks on those all together. I’ll take it out of this:
Sold WYNN AUG 4 2017 130.0 Puts @ 2.45