#SyntheticShortStock – As usual my covered puts got absolutely smoked. Selling against a long term synthetic short out to 2026. Rolling out and down a strike. Week before earnings.

Rolled NOC Dec 15 2023 477.5 Puts @ to Jan 19 2024 475 Puts @ even (7.45 and 4.50 total now)

At some point I may close the synthetic short and trade the puts like regular sales.

I’m sensing a theme here. LOL Decent directional trades but killing myself with the options. I still have nightmares about owning 900 shares of SOXL at 70 and having calls get run over and selling the stock at 90 just before it went to 600. UUgh.