CMG $340 but no new bad news – just Cramer and Co scaremongering:

Chipotle Is Doomed Unless It Takes This One Dramatic Measure

In the STP, we have 5 short Dec $370 puts at $29.50 ($14,750), now $47 ($23,500) and we can roll those along to 7 of the 2019 $300 puts at $33 ($23,100) for $400 out of pocket and we're about net $20 on the 7 short $300 puts for $280 entries, worst case.  The new short puts go into the LTP and we'll take the loss in the STP (a way of transferring cash between the portfolios).  The 10 Aug $370 calls at $14.25 ($14,250), now $5.50 ($5,500) and again we'll take the loss in the STP and, in the LTP, we'll open 10 2019 $320 ($68.50)/$420 ($28.50) bull call spreads for $40 ($40,000).

So, in the STP, we take an $18,000 loss and, in the LTP, we make a new net $25,750 spread that pays back $100,000 (almost 300% profit) if CMG can get back to $420.  Good for a new trade, of course.  

TSLA/Jabob – That's why we took the money and ran.  Now we want it to go up so we can short it again.

Submitted on 2017/07/18 at 4:07 pm

• TSLA – We were worried enough to sell short puts to cover our losses so let's not look a gift horse in the mouth and buy back the short calls and the short puts and be done with them until earnings(unless they get all feisty again).