#SyntheticStock -Been waiting for some sort of a pullback to get in this long term Whiz style (although he prefers the #LongCallDiagonals for some reason).

Sold BIDU JAN 17 2020 250.0 Puts @ 42.47
Bought BIDU JAN 17 2020 250.0 Calls @ 49.41

Adding a tight disaster put. If it implodes I’ll roll this down and re-invest the profits back into more longs.

Bought BIDU JAN 17 2020 240.0 Puts @ 37.17

This gives a net debit of 44.11 for the Jan 2020 position. Add the 10 point max downside and get a max loss possibility of 54.11. Based on that, and the 112 weeks remaining in the trade I only need to average about 48 cents per week in sales to cover the absolute worst case scenario. And…BIDU has great weekly premium.

So:

Sold BIDU DEC 1 2017 250.0 Calls @ 1.95

#ira