#CoveredCalls – Was still holding stock from an old earnings trade and had it covered with ITM calls for max downside protection. Chart looks like crap so I’m #ReverseRolling covered stock into a strangle. I don’t want to possibly get stuck with another falling stock and selling calls forever. Goal was to get out even once the earnings trade busted.
Sold to Close covered stock @ 167.15 (that was a loss of 3.90)
To make up the loss and get back to a slight profit including commissions:
Sold STMP DEC 29 2017 160.0/195.0 Strangle @ 4.30