aggiedaniel06 said:
Keeping with my Coronavirus strategy, bought 5 RCL 2/14 115P at $3.20
PSA for anyone who might join this trade, earnings release is on 2/7.
RCL announced Q4 earnings today and missed GAAP EPS by $0.14. However, the SP shot up premarket and gapped up to $122 but has been fading ever since, a bearish sign given that the overall market has been strong.
The puts I bought held on pretty well considering the IV crush and are currently at 1.85. This is why I bought them two weeks out and not weeklies.
Today, I opened a 115/110 put spread (Qty. 20) expiry of 2/21 for $0.70. Max profit of $8600 at expiry with Max loss of the premium paid of $1400.
Will keep y'all posted...