I’m long 120 shares of CHWY and short the 8/30 29 C. Was pretty crazy to see the call appreciate less on the day than the underlying. I guess it’s a function of the best case scenario that the stock shot up while just barely staying OTM. Still lots can happen between now and Friday so I closed it out for a small gain.
Posted by Massive_Reporter1316
1 Comment
IV crush is a real thing! It’s a classic example of why options trading can be tricky. Sounds like you made a good call closing it out when you did.