Nikola Corporation
Long
Updated

OPENING: NKLA JULY 17TH 55 SHORT PUT

286
for a 21.95 credit.

Notes: High rank/implied after going public (134/328). Cost basis of 33.05 if assigned on the 55's. The July at the money 80 short straddle is paying around 60.00 relative to a share price of 81.33 or about 73.8% of the share price, which doesn't happen very often ... .
Trade closed manually
Out for 16.00 at the open; 5.95 ($595)/contract winner. With "earnings" (there aren't any really to speak of) in 3 days, money/taking/running here. Will consider re-upping post-earnings if the volatility remains ridiculous.

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