On September 4th we bought the January 2016 230 Puts for $30. The stock dropped shortly after that just as we expected it to do and this allowed us to sell the November 200 Puts for $4.75. The credit we collected helped lower the cost basis of the January Puts to $25.25. Now our goal is sell the next round of puts after the stock has dropped back down to fill the gap below the market.
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