#SyntheticStock – Joining in on this popular ticker. Thanks @mortlightman for the reminder this morning. Saw it on @smasty ‘s update last night too but forgot. Going out a little further just in case more time is needed to cover max loss.

Synthetic Stock:

Sold MU JUL 20 2018 43.0 Puts @ 4.73
Bought MU JUL 20 2018 43.0 Calls @ 5.56
Bought MU JUL 20 2018 41.0 Puts @ 3.77

This gives a net debit of 4.60 for the Jul 2018 position. Add the 2 point max downside and get a max loss possibility of 6.60. Based on that, and the 25 weeks remaining in the trade I only need to average about 26 cents per week in sales to cover the absolute worst case scenario.

So:

Sold MU FEB 2 2018 44.5 Calls @ .60