After spending a month consolidating in September, it lost 65 and is running to 60.
We are going to roll this trade and add size.
First, the closing trade:
| IWO Premium Order Ticket | ||||
| Type | Asset | Duration | Strike | C/P |
|---|---|---|---|---|
| BTC | LULU | 21 Oct 16 | 62.5 | Put |
| STC | LULU | 21 Oct 16 | 60 | Put |
| Total Debit: | 1.34 | |||
And now the opening trade. This is to be done with twice the size:
| IWO Premium Order Ticket | ||||
| Type | Asset | Duration | Strike | C/P |
|---|---|---|---|---|
| STO | LULU | 16 Dec 16 | 52.5 | Put |
| BTO | LULU | 16 Dec 16 | 50 | Put |
| Total Credit: | 0.40 | |||
Right now we are locking in a loss, but we will trade around the 2nd and 3rd tier to get back to breakeven.