Goodbye CRUS hello SMH

#SyntheticStock #LongCalls #LEAPS – Here’s what I finally decided. The more I trade these types of things the more I like the ETFs vs individual stocks and the straight LEAPS vs synthetic stock if the premium is worth it.

Closed my half size position in CRUS at a loss of 1.50. Taking a full size SMH position (twice the CRUS size) out in 2020 so I’ll roll the .75 loss into the new SMH trade.

Bought to Open SMH JAN 17 2020 105.0 Calls @ 14.80 (15.55 with CRUS loss added)

That is my max risk in the trade with 92 weeks to run requires 17 cents per week to cover.

So:

Sold SMH APR 20 2018 106.5 Calls @ .72

I feel much better about this now vs the CRUS trade. Thought about holding CRUS since it was getting closer to even but figured I’d s**t can it and just concentrate on the SMH position.