I'm holding $4 puts. They expire April 20th. I'd like to maximize them as I lost about a good amount in calls. If it hits $1.60s tomorrow I may have to sell them. Unless you think this drops below $1.50s in the next week or so...?
So I lean bullish on ZIOP and the upcoming trial results. I own 50 $6 calls (@1.1), 50 $8 calls (@0.45) and just bought 25 $4 puts (@1.1). These are all April expiration. I want the upside if the results are positive but want to cover 33% or so of my investment in the calls if the results are negative.
Do you think I did this with the current spread? If not, please let me know what I should have done (or still can do) differently. This is how I learn-- trial and error.
Best of luck to all the longs. Thanks for any advice in advance.