Reasoning:
1) Market is so out of reason right now its giving free money.
Entry Point:
Sell short 200 shares GRMN @ $37
BTO 2 Nov 35 Call @ $3.60
STO 2 Nov 35 Put @ $3.50
Net Credit $36.90 and I will have either the obligation or right to buy GRMN back at 35 at Nov expiration
Exit Points:
Primary Exit (PE): Hold to assignment. Profit $1.90 per share minus commissions.
Secondary Exit (SE): I don’t know what I don’t know. If the SEC bans shorts on all stocks then this potentially could get ugly. But I would still have the right to exercise my call in that case. Assuming they don’t ban options too….
Posted by calendarguy 