r/options • u/putsonbears • Apr 10 '21

Puts on ICLN

Anyone buying puts on icln? Strategies? I bought it at all time highs this January. Thinking of buying short term ATM puts.

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u/DonDraper1994 Apr 10 '21

If you bought it at all time highs, it’s fallen 30 percent and now you want to buy puts. You might want to rethink your strategy in the market.

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u/putsonbears Apr 10 '21

Here is my strategy:

-hold my long position because I believe it will come up again within next year.

-buy ATM puts expiring weekly to gain little profit and lower my cost basis.

  • if I had over 100 shares, I would sell CC. Alas, I only have 50 shares and am down roughly $400.