fuzzballl 7:14 am on Friday, August 24, 2018
Tags: LEAPS ( 418 ), LongPuts ( 144 )

DUST

#LongPuts #LEAPS – Getting creamed today so needing to roll. Went ratio’d from the beginning on this one since it could be in the teens next week…LOL

Rolled DUST AUG 24 2018 40.0 Puts to AUG 31 2018 38.5 Puts @ .05 debit

Jeff 7:26 am on Friday, August 24, 2018

which LEAP are you long?
- fuzzballl 7:36 am on Friday, August 24, 2018
  
  Jan 2020 40.0 strike…here’s the original trade from last Thursday.
  
  ===========================================================
  
  #LongPuts #LEAPS – I tried this with NUGT a long time ago and it didn’t work since I didn’t ratio the position. NUGT was pushing 60 at the time…right idea and wrong execution. I’ll try not to make that mistake here. Sticking with a 3×2 from the beginning since this thing can implode quickly.
  
  Bought to Open DUST JAN 17 2020 40.0 Puts @ 14.50
  
  Sold DUST AUG 24 2018 40.0 Puts @ 1.64
  - Jeff 7:54 am on Friday, August 24, 2018
    
    Why didn’t it work with NUGT? It’s at 14.00 now.
    - fuzzballl 7:57 am on Friday, August 24, 2018
      
      I didn’t ratio it and the weeklies got demolished. Took forever to get them rolled down enough just to get back to even. Can’t remember when I started the trade but it was right before one of those 50 percent drops in about 10 days. Oh what could’ve been!
      - Jeff 8:00 am on Friday, August 24, 2018
        
        Oh! sorry, I thought you meant you weren’t selling puts against it, but you said ratio. Got it.
      - Jeff 8:00 am on Friday, August 24, 2018
        
        I may try this, but not even bother selling puts. Just buy the ATM LEAP on a spike high. Next reverse split on NUGT will be juicy.

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