Lesserweavil 6:40 am on Thursday, July 18, 2019
Tags: BUPS ( 400 )

NFLX

Roll $NFLX 7/19/2019 330/340 #bups for 330/340 8/16/2019 @-1.00. Ouch but not as much ouch as letting this expire ITM.

Jeff 6:44 am on Thursday, July 18, 2019

If your plan was to roll, I would advise waiting at least until end of day, or better yet tomorrow, for a possible recovery. There’s no risk of early assignment during the trading day, and little risk of assignment on Thursday night when your short puts are in a spread. Even if you were assigned tonight, you’d still have the long put so your position isn’t really changed for Friday.
- Lesserweavil 6:56 am on Thursday, July 18, 2019
  
  Already executed, frankly. $NFLX recovered a bit, but only briefly, and dropped off again – at 321 and change as I write this. The Jul 330/340 was originally sold for $1.65. This roll gives me breathing room and I realized some of the value of the long put. Mid price on the roll is now over $2. For me, this takes the pressure off, maybe not pretty, but better than taking a complete loss.
  
  Edited to add: – I do appreciate the guidance, btw, and will be watching to see where things go the rest of this week. Always trying to learn and get better, and to avoid reacting, vs anticipating and planning.

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