sell short -1 July 19, 2019 $110 put at $1.68
Facts:
- 23.29 delta
- MSFT trading at $120.66
- 98 days 'til expiration
- stochastics "overbought"
- CNBC reported "unusual options activity" (heavy volume on the July $120 long calls)
- earnings report after the close on Wed. 4/24/2019
Wed. 4/24/2019 (8:47:33 am, PT)
buy (to close) put option at $0.94
Why? To protect my profits and to avoid any unpleasant surprises after the earnings announcement (at 1 pm, PT).
PROFIT: $74 (12 days)
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