I guess I'm a dip buyer
Converted shares to Jan '25 200 strike calls today - 4:1 conversion using nearly all cash. One benefit of that particular contract is that there is enough volume that the bid/ask is under $1 (about $0.80 when I traded I think).
I've also opened another put spread - this one 135/120 (this week).
The new put spread goes with 160/140 expiring next week and 170/150 expiring the first week in Jan. I intentionally rolled the latter two assuming that this week would be another down week, with P&D getting close turning things around (or at least flattening out). These latter two positions are a high enough % loss that I'm also planning ahead now to either widen the spread and/or roll to a worse strike. The 170s are short enough duration that I've begun watching time value to make sure I don't cut that too fine.
Converted shares to Jan '25 200 strike calls today - 4:1 conversion using nearly all cash. One benefit of that particular contract is that there is enough volume that the bid/ask is under $1 (about $0.80 when I traded I think).
I've also opened another put spread - this one 135/120 (this week).
The new put spread goes with 160/140 expiring next week and 170/150 expiring the first week in Jan. I intentionally rolled the latter two assuming that this week would be another down week, with P&D getting close turning things around (or at least flattening out). These latter two positions are a high enough % loss that I'm also planning ahead now to either widen the spread and/or roll to a worse strike. The 170s are short enough duration that I've begun watching time value to make sure I don't cut that too fine.