Terra Incognita
05-21
I opened $ANF 20240621 110.0 PUT$  ,ANF: collected 1.7% premium on Abercrombie & Fitch after cash secured put. The strike was set at $110 which is slightly lower than my short holding average. If ANF ever fall this low and went into the money, then it meant as my short swing bets were profitable both for the stocks and options. ANF now is at all time high and overbought going into earnings. Their past quarters were very strong earnings so risk are there for another good earning. US consumer debt had been increasing and post covid savings money had mostly been depleted. I look for a short term correction on ANF to secure for a win for this swing trade.
Trading Order
SymbolSidePriceFilled time
ANF PUT
US20240621 110.0
Sell
Open
1.92024-05-2023:43:11
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Comments

  • buythedip
    05-21
    buythedip

    Gosh this counter looks so bullish…

    • Terra Incognita
      Indeed. Consumers discretionary yet stock chart like a tech stock.
  • Terra Incognita
    05-22
    Terra Incognita
    Yes you could sell call. The setup of this trade is to buy back all my net shorts stocks should it ever get assigned. Thats my ideal case so selling this put bears low risk due to combination of my other trades.
  • sullivan_Rlo
    05-21
    sullivan_Rlo

    can consider selling calls?

  • YorkTurner
    05-21
    YorkTurner
    Wow, your swing trade on ANF seems quite promising!
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