On 5/13 I entered the trade as follows:
Bought Jun 70 put
Sold Jun 65 put
Bought Jun 60 put
Net debit of $0.94
Today, I couldn't take any more pain from this "hoof." I put in a stop order at 30% and got stopped out in the afternoon.
SOLD -195 BUTTERFLY PBR 100 JUN 08 70/65/60 PUT @.65 credit
.65-.94/.94= -36.2% loss
I have thus changed my strategy a bit with GMoney on these post earnings butterflies. See my close posts for CSUN & AZO today.
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