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July 7th, 2017 at 10:31 am
FTR/Pat – In our LTP, for example, we already have 15,000 shares of FTR which will become 1,000 shares at about $37/share and we already have 40 short $4 puts we sold for $2,600 that will become 3 short $60 puts at about $56 ($16,800) and we'll want to roll those down to about 30 2019 $15 puts for $2.50(ish) for $7,500 and we'll sell 30 2019 $15 calls for $2.50(ish) for $7,500 and then we'll consider if we're ready to DD with 1,000 or 2,000 more shares at $15 but likely we'll wait a bit to see how things go.
So, we have a lot of money to spend – better to be sure!
TSLA/Rustle – Trying hard to get back to $315.
Dollar almost back to 96. Oil below $44, /RB $1.477 – yikes!
/SI very weak, as we thought. /YG down to $1,212.