I’m long IBM and think the recent beating it has taken is rather overdone.
Sold IBM 1 x 3 x 2 Nov 13 2020: 110 / 115 / 120 Call Unbalanced Butterfly @ 0.32 debit.
This is a punt where I am willing to take on the task of managing a short 2 x 115 / 120 call spread, especially as that means I pocket 5 points from the 110 / 115 long call spread.
Limited downside risk (cost of the debit). Upside breakeven point @ $117.
Options Bistro 