Previously sold a TWTR $46 Put, $70 Call – 02/19/2021 Strangle for $312 on 12/18/2021. This has gone very poorly since with TWTR stock moving around $55 to around $45.
Initial management plan is out of the window now and it’s all about just surviving to buy it back for break even.
I have moved the call from the $70 to $55 strike and collected additional $88 in credit making the total credit collected to $400.
Breakeven for this trade if the options expired today would be $42 on the put side and $59 on the call side.
Another note – with the introduction of the beginner portfolio page, I will probably stop trades of the day post and put more energy into the beginner portfolio and topics for newbies.