Question for Options experts - how would you trade this scenario?

[SteveM]

Great call! You knew what you were doing.

It's funny, after reading your reply I was thinking to myself "yeah, what an idiot I was for not just holding them for the $200 OpEx pin and collecting the entire $1250."

And then, BOOM, this morning the secondary price is announced at $160 and down goes Frazier.

So, I'm glad I bailed when I did.

 

[tommcginnis]

It's funny, after reading your reply I was thinking to myself "yeah, what an idiot I was for not just holding them for the $200 OpEx pin and collecting the entire $1250."

And then, BOOM, this morning the secondary price is announced at $160 and down goes Frazier.

So, I'm glad I bailed when I did.

I would put this whole thread on my mostly-imagined "Top ET posts/threads of.... 2019" list.
It is SO GREAT that you made a nice payday here, AND took some good thinking into/out-of it. Well freakin' done, SteveM.

 

[ironchef]

It's funny, after reading your reply I was thinking to myself "yeah, what an idiot I was for not just holding them for the $200 OpEx pin and collecting the entire $1250."

And then, BOOM, this morning the secondary price is announced at $160 and down goes Frazier.

So, I'm glad I bailed when I did.