Sold all my equity at the open then bought back a bit more than the equiv in $3 Jan calls after the drop - thanks MBA! My thinking is that MBA and Co. are a very capable bunch and are putting forward the absolutely best bear argument conceivable. Reminds me of Best Buy, HPQ and NFLX a year or so ago. So in my view the 2.20 support held up against MBA in round one and appears to be doing so again today, so my thought is that we've found a floor - after all, how much more negative could the outlook get short of actual bankruptcy? I'm not playing with fire with a long equity position but I'm all in with my $15 a contract calls.
Rivetm, if you do not know options learn first or you will lose every thing you invest in them go on line and learn their are many good free sites also learn the Greek #s it tells you a lot and how to use an option calculator, it is good to know when they are cheap or expensive. Option have tended to close just below max pain on many issuance esp. TY.
“ To be warned is to be prepared”
Know that over 90% of people in options lose fact