GILD accidental straddle/strangle as recovery trial.

Did not have time to post earlier.

BTC the 71.5/72 straddle strangle and STO 23 DTE for 1.21 credit. Originally sold for 2.12 so total credit now 3.33 on stock assigned at 79 (CB 78.06) so now down to 74.73 in 2 weeks. One more roll should be break even but I also opened some 77.5 LEAPs so will be rolling those puts next week. Once I break even may keep going with the straddles as an experiment. LEAPS expire Jan 2019 and I can hold the stock for the dividends and sell call side and the puts against the leaps.

Looks like by selling an ATM or close to the money straddle can bring in 2-4 credit each week on most stocks going out 1-4 weeks and may result in quicker profitability than just converting to CC. Will see over time how it works.

The LEAPS only cost 12.26 so should be able to cover those in about 12 weeks.