Today, seeing that this has bounced off of 70 and started heading up again, caused me to hedge my position by adding a second calendar at 70 for an additional debit of $3.13.
This is how it increased my probability:
Here's the analysis chart for just the single 85 calendar I was in. Notice how I only had a 42.85% probability that the stock would hit my strike of 85 for max profitability.
Here's the chart with the 70 and the 85 double put calendar. Now my probability of max profit has increased to 60.14% for only an additional $3.13.
I bought the Jun 70 for 5.75 & sold the Apr 70 for 2.62. So now my adjusted cost basis is $2.70+ 3.13= $5.83.
I reset my stop loss to $4.09 (30% loss)
