EA Butterfly Trade

Buy: $84 Put 02/08
Sell: $79 Put 02/08
Buy: $74 Put 02/08

Cost: $250
Breakeven: $76.50/$81.50
Max Profit: $750

Volatility contraction trade, TP around 10-20% of max profit. Somewhat risky but with a nice 3:1 Reward/Risk ratio.
Held this one out and paid the price; truly abnormal bounce following such a negative earnings reaction. Moral of the story: don't get greedy!
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