dluxe23

Short put in DY

Long
NYSE:DY   Dycom Industries, Inc
Was reading up some on Dycom before earnings and was tempted to trade pre-earnings and am I glad I waited for some opportunity. Sold a put at the 35 strike today for 1.30 and a bit further out in time (114 days) the longer dated trades I do are usually when I am more bullish and use it as opposed to selling 2 lots so that I can defend better, should I have to average down. This could turn into a wheel trade--where I get assigned the stock and then sell calls. I can still roll out in time if I get nervous due to DY falling out of bed but will still have to buy 100sh at $35. This has been my "goto" set up for years......until the market breaks anyways. Try to make money from a drop in price and increased volatility and then hopefully back into cash. Wish me luck
Trade closed manually: Closed this short put for .90 debit today as the stock has bounced some. Approx 30% in a day is good enough for me and being as I went further out would or could have a lot happen in that time.
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