I bet talking to my 5 year old about options would be less frustrating and that would be after I abruptly turn off the tv show she was enjoying so much.
GRASSHOPPER, Cesfx gave you a very strong hint to what I meant " buyer of the calendar".. Look at what you are suggesting,but simplify it.. You are welcome
Ok so now you are doing the same shit as your idol You Know Who (since my last post mentioning his name got deleted by the mods - I guess you are not the only one who puts people on a hierarchy LOL), fancying up terms unnecessarily without explaining just to show an air of superiority. What's this "buyer of the calendar" in terms of options trading? You mean buying a protective put with the next or later expiration date for the underlying if the OP gets assigned? If that's what you mean, yes you would be correct. That is what I am suggesting with also the possibility of selling the long put leg if he can to maximize profit. If you believe options trading is all about maximizing the spread, then every single penny counts. You got the gist of it except I didn't specify that he can only buy the longer-term put after he sells the long put leg. Congratulations!! You can read like the rest of us!! That is a shame. I guess this is where we agree to disagree.
Yes that's why the OP has already "bought the calendar" I am sure (if OP is assigned and is intending to keep the underlying) and is contemplating selling the "front" one. Looks like it's going to fill the gap tomorrow. This stock always bounces back after ex-div., usually right away too except on one occasion where it took a few days to do but eventually it still did.