Rolling our OSTK call contracts to a lower strike price and January expiration date.
This lets us buy more intrinsic value and keep the trade in play, giving us more time for shares of OSTK to rebound. While we will be taking a loss on the original call contracts, our bearish positions have more than offset losses for OSTK in recent weeks.
- Sell (to close) the OSTK December 17th $90 Calls
- Buy (to open) the OSTK January 21st $70 Calls
- Limit: DEBIT of $16.00 or less
- The new position will represent roughly 7.9% of our Spec Model capital
- 11:03 Executed
- Sold OSTK Dec 17th $90 Calls @ $3.10
- Bot OSTK Jan 21st $70 Calls @ $18.10
- Net Debit $15.00