I have a huge RIG position too. I sold my long, and bought 30 August 60s, which is a 2700 Delta. The premium was a mere buck, so it seemed like a sweet deal. I more than doubled my RIG position. A little too early, but that's okay. I plan on selling 1/2 of it on a pop, and then letting the rest ride.
I haven't been daytrading as I haven't had time.
The last 3 days were bad for me too.
Good luck and weekend.
No, just the DO short. 1k of RIG was bought today at 76.60 to see if it can get a boost early next week after options expiry. I'm playing that 1k based on what happened last expiry. The rest I'll start lightening up if I see 79+ early next week.
I sold all my RIG, NE and MDR this morning, then bought RIG back at 76.56 a little while ago, its been hard to trade these guys today, at least for me, options exp, low volume, oil down, to many variable for me to handle, I'm thinking of holding the 1,000 shares of RIG that I bought back at the 76.56 but with this latest drop now occurring, I still haven't decided, will probably do that unless I think the market is really falling apart, which at this point I don't think is the case, I still think we bounce back next week but man this has not been a good week for me so what do I know....gl