With the stock at 225.32, a better representation of the Iceman #FallingKnife strategy might be selling the 170 puts, midprice around 1.30 right now. The 170 would take you back to Dec 2016 as the last time the stock was at that level. In this case I’m going higher for more premium–190 puts, a strike last seen in Feb of this year. Delta is 14.
Sold $COO May 18 190 put @ 3.00.
With today’s move up, I took the opportunity to close this position for around 75% of the max after having been underwater just 2 days ago. Didn’t want to risk a reversal with opex coming up on Friday.
Bought to close $TTD Dec 15 45 puts @ .35. Sold for 1.45 on 11/13.
Been fighting with this ever since I put it on but chipping away at it.
Original trade was a Nov 57/60 strangle. I rolled the puts up to 60 to create a straddle, then rolled the whole position to Dec. I just rolled it again to a Jan 60 straddle for .36 credit. Premium taken in so for is 2.54 with XLK at 63.96. I’m comfortable keeping the short delta in tech for now.
Well one position at least. Been wrestling with this one since March. Sold puts at the 27 strike with the stock around 31 at the time. Rolled it 5 times and was left with the 27 puts expiring this Friday. With today’s move I’m finally able to get out of this for a profit. So I’m taking it and running.
Bought to close $M Dec 15 27 puts @ 1.38. Overall profit on position is .87.
I’m also short the Jan 20 puts which are mostly profitable.
Rolled $AAOI Dec 15 75 puts out to Jan 19 for 1.20 credit with the stock at 39.11. With continued rolls, basis reduction on this so far is 11.09. After having quite a few positions on this stock since May I’m down to only 2–this problem child one and short March 22.50 puts. Stock has been profitable to trade this year. If I can’t stick the landing, I’m looking for at least a graceful dismount from this position soon.
For most of they year, rolling and adjusting a strangle that went wrong. I just rolled it again and was able to widen it by 1 point, this time recapturing a good portion of the loss and hopefully ending this thing by January if it can finish anywhere near the strikes, if not between them.
Rolled $EWW Dec 15 51/53 strangles out to Jan 50/53 strangles for .41 credit.
Sold $TEVA Jan 19 17.50 calls @ .53