#LongCallDiagonals #Revenge – Was in a strangle where the put side was DITM. Closed it back on Aug 10th as the stock continued tanking. The plan was to wait for something resembling a bottom along with a few good headlines coming out. Not sure if this is anywhere near the bottom but the news flow is beginning to sound more hopeful.
Starting a long term (lower risk) position to work my way back on this thing. It is a revenge trade so maybe not the smartest thing but gotta take a shot. Need about 1.50 to 2.00 bucks a week to get what I need assuming no increase in the stock…
Here we go:
Long term position @ 44.50 debit
Bought CMG JAN 18 2019 300.0 Call
Sold CMG JAN 18 2019 250.0/200.0 Bull Put Spread
Front month sale (first of 73 …LOL)
Sold CMG SEP 1 2017 317.5 Call @ 2.30