Teva Pharmaceutical Industries Ltd (TEVA)

[WovenO2]

Quite an admirable way to approach this setup.

I haven’t reached that far out on strike prices “yet”.

Albeit, it’s been a while since I’ve seen this type of option activity. Being able to buy and write the same put/call strikes on different weeks (some 3+ weeks out) for roughly the same amount on the same day given the days price movement we were working with was a gift.

Great example: I was buying mid to late March calls early this morning for the same price I was writing March 3rd calls for late in the day. Also wrote a bunch of near term puts this morning to hedge against my late May puts I picked up on Friday.

I’m covered whether up, down or sideways.

I’ll definitely be adding more option legs this week. If all goes well, I might try for one of those “one and done” for the year trades.

Buy at .10 sell for .70-1.30 a few days later. Love those....