@ that time my 17.5 LEAP's were @ 2.89...(down over 1k)...Im going to hold those directional for now in anticipation of a bounce...(already @ 3.00x3.05)
...will re-estab short side post bounce (better premiums) this all = turning a loser into a winner
I originally bought the ~NVDA~ Jan 17.50's for (link back) so my basis is 4.35 = $4,350.00
I then sold the June 21's for .88 = $880.00 I bought back today @ .15 = $150.00 = profit of $730.00
So I basically reduced my Basis (& it looks like this) 4.35 - .73 = 3.58 So my new basis is now 3.58 or $3,580.00
I then waited for a bounce...got it...re-established a new short (~NVDA~ Jun 19 calls @ .60 = $600.00)
So in effect my new basis is 3.58 - .60 = 2.98 (I might not get the whole .60, but you can see what I am doing...Eventually, my long LEAP position will pay for itself...
Hope this helps some see what this method is about...(this is just my view & how I learned)
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