NaughtyPines

OPENING: KBH JULY 17TH 28/40 SHORT STRANGLE

NYSE:KBH   KB Home
... for a 1.17 credit.

Notes: Earnings in 1 with rank/implied at 57/73 and the at the money short straddle paying nearly 15% of the share price. Looking to take profit at 50% max or otherwise manage on side approaching worthless.
Trade active: Pulled off the short call for .06; scratch at 1.09.
Trade closed manually: Out of the short put here for .95, a "Happy Meal" winner. I could've hung out longer toward expiry, but taking a short vacation here over the July 4th weekend and rather not have anything hanging out in July.

Comments

So with today's price action did you exit the call? Look to re enter?
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@Apux, It's approaching worthless, so probably should have, since it's providing zero protection here anyhow. Will have to look at it next week ... .
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