New position QCOM July 32.50 puts @3.20 or March 32.50 @ $0.65. the short below 34.50 (missed 34.71 while bidding for the puts). I like July because the return is worth the extra premium you pay (like PHM) LOVELY 2:00 and 2:30 breakdown on this SHORT THE RALLY DAY. The short is intraday (possibly we hold some) but the puts look like swing play.
PTEN has not been an easy short but is looking better here stop is at 32.50 from 33 which was entry so at worst we break even Lowered the stop to breakeven after PTEN moved from 32.50 to low of 31.96
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