STMP - just a trade
Updated
With a 50% drop from earnings and me with a lot on the sidelines makes for a risky trade, but with risk there is reward. I sold a 75 short put that expires in 7 days for 1.85 and I will look to let this expire worthless or close at 2X loss. I do not want to take this stock and should be able to keep an eye on it for 1 week. The expected move in this time frame is $10 and the implied volatility is 126% with a rank of 69 so I should be able to manage a small winner if I change my mind and want to scratch this one, but gamma will be high with so little time. Wish me luck.
Trade closed: target reached
Closed the short put for .17 this morning for almost a full win. Not taking it off could just leave me with risk and even with $5.70 commission (Fidelity 1 lot 1 way = highway robbery compared to TastyWorks) I would rather take the money and run. Greed Kills
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