ADSK

Let’s officially call this a #ShortStrangles trade now…

Rolled ADSK DEC 1 2017 120.0 Puts to JAN 19 2018 120.0 Puts @ 1.27 credit

Used half that premium received to buy a little protection at 2.5x size. May not need it it but with a little more weakness could make a small profit. Will continue selling the weekly calls…

Bought to Open ADSK JAN 19 2018 80.0 Puts @ .30

Where do we stand now? Basis in the Jan 120 puts is 116.70 so there’s work to do. It is nice knowing that if they file bankruptcy tomorrow I make 17k. Becoming a fan of these super cheap disaster puts since you never really know what’s going on in the boardroom with these “AAOI” type stocks.

🙂 🙂