Hey partner,
I have decided to enter into a calendar put spread on one of the most affected names in the peer set.
This isn’t a vanilla trade whatsoever, but it is designed to keep you safe and able to reduce your cost/risk the longer the move takes.
Because I am expecting it to pay off toward September, the ratio of long puts to short puts matters a whole lot.
More importantly, their strikes and expiration.
Here’s what I just dealt:
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