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Strategies & Market Trends : Option Strategies -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (2406)	11/2/2022 5:04:41 PM
From: sm1th	Read Replies (1) \| Respond to of 2591

The first rule of writing Puts is never write one that you wouldn't want to accept assignment. I have never been in that deep of a hole, my worst was writing DAL puts too soon after the 2020 Covid crash. Had to roll them 3 or 4 times before they expired. Presumably you are willing to own UAN, what price are you willing to pay. Try to work your puts toward that price.

To: Elroy who wrote (2406)	11/2/2022 9:54:36 PM
From: S. maltophilia	Read Replies (1) \| Respond to of 2591

I doubt you'll be able to roll to Feb 160's, not this thinly traded deep in the money and so close to expiration, without getting hit with a debit. The best I can suggest, if you're strongly bullish the stock, is either try the Feb 165 or higher strike put, or a May or further expiration, with very little premium as your limit on the spread for a little while and hope the dealer is generous. But, more than likely, you'll get assigned this weekend.