Without waiting for any further fall in the stock, I bought back my short leg of the back spread that I opend last night. As mentioned in the last post here, i had received $2.65 credit. I bot back my sold leg for $1.95 and I have 2 call legs ($30). This might serve as lottery ticket in case the stock decide to come back. With this, it resulted in 29.8% proift for holding for 1 night. Please do note this is a speculative trade, which is not my bread and butter strategy. It is only for accelerating the returns at “certain” time. This is high risk/high reward/loss kind of play.
Here is the transaction detail:
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