I had picked up AMD PUT 134 basis 06/09 hoping for some stability. AMD was at 139 when I bought it 3 days before expiry
However on expiry day the stock plummeted below my strike price. Knowing I will have to sell off to prevent assignment, I bought another put at a high price and thus averaged out te price . First put was at 1.22 and the second at 7.0, thus reduced losses As I sold at 5.30.
This strategy was new to me but I am sure experienced options players know it.
Also I had another put taken at 130 but luckily that held, for the same day. That was 0 day just to reduce losses and was taken at 0.1 USD.
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