#SyntheticStock – Nice base being built here and entering a squeeze. Adding small in the only account without biotech exposure.

Sold AGN JAN 18 2019 175.0 Puts @ 18.73
Bought AGN JAN 18 2019 175.0 Calls @ 18.78
Bought AGN JAN 18 2019 170.0 Puts @ 16.57

This gives a net debit of 16.62 for the Jan 2019 position. Add the 5 point max downside and get a max loss possibility of 21.62. Based on that, and the 53 weeks remaining in the trade I only need to average about 41 cents per week in sales to cover the absolute worst case scenario.

So:

Sold AGN JAN 19 2018 180.0 Calls @ .73