$Hegdavis WDC WDC, keeps going…


WDC, keeps going down. Converted to LEAP #fuzzy earlier in week. Was trying to roll to next week at 70 but because of the internet issues it somehow rolled to 66. Ok so took in a lot of cash but then the internet went down for a few hours. Of course during that time WDC reversed so was losing $ on the new trade and deltas were already flat. So rolled out to 43 DTE and up to 70. Took in 1.32 on the 66 call but had to buy them back and roll for 1.02 debit. So anyway after all that, now have the 60 LEAP 70 43 DTE call spread for cost basis of 19.03. If we rebound will buy back 2-3 of the short calls to let it run. Break below 65 will collar it to prevent further losses. As long as it stays 65-70 should break even in about 6-8 weeks.

As WDC is starting to break below 65, at which point would you consider a collar? Just closed out the short 08/17 70 @ 0.05 so just holding the 60 LEAP. Would appreciate your advise with this.