BABA announced earnings today pre-market and the stock jumped to $166. I needed to roll my inverted Puts up to 165 in the October expiration to collect more credit on the trade. My position now has an intrinsic value of $30 and with this roll I collected an additional $3.62, bring my total credit to $24.74. After this I'll need to collect another $5.26 in future adjustments to break even on the trade.
Rolled: five 15 OCT BABA 155 inverted Puts @$3.62
- Bought: five 15 OCT BABA 155 Puts @$3.24
- Sold: five 15 OCT BABA 165 Puts @$6.86
Total Commissions/Fees: $6.50
Balance: $53,960.25
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