LULU continue to drop for the 4th week in a row and it's down 66% from its all time high.
The old covered call of $220 strike premium is almost depleted so decided to roll down to $210 strike to capture a bit more of the downside.
Still losing money on the long call but then it's the decision I had made so I'm going to walk it to the end.
Earnings on Aug 28 so maybe still can sell 1 more round before it's due and also possible at higher premium with increased volatility closer to earnings.
| Side | Price | Filled | Realized P&L |
|---|---|---|
| Credit Close | -1.70 1 | -- Closed |
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- Merle Ted·08-08TOPUnreal buying opportunity. This will rally as we get closer to earnings. Right now is the best time to start a position. My average is $195 and I’m going to keep adding. Be fearful when others are greedy!1Report
- Porter Harry·08-07Smart roll to $210 to salvage some premium. Volatility into earnings might just give you that extra round. 🎯📉1Report
- Enid Bertha·08-08LULU breaks through all the support levels, and probably will remain under pressure to the earning date.1Report
- henshengqi·08-07Tough break, but love your strategy! [Heart]1Report
- CINDYTAN·08-07😊1Report