NTRI earnings came out last night and the stock has gapped down well below the breakeven trading range of $18.62- $ 31.38 from my probability analysis on 2/19/08.
It opened this morning at 18 and now it's sitting on support at 17, so if support holds we may get a bounce up. If not then I'll exit the short put and close the trade completely.
So at 11:58am, I closed my short Mar 25 call for a debit of -.13 and set a stop loss on the short Mar 25 put. Near close at 3:40pm, I went ahead and bought back the Mar 25 put for a debit of $8.45 because it kept heading down. This gives me a total debit of $8.58. I got into this trade by selling the 2 options for a credit of $6.42 so I now have a 22% loss ($2.16 loss/$10.00 risk).
