INO call option bear spread saga...

Discussion in 'Options' started by TimtheEnchanter, Jul 6, 2020.

Was I too quick to quit?

  1. YES

    1 vote(s)
    50.0%
  2. NO

    1 vote(s)
    50.0%
  1. Four days left, but this puppy is all over the place so am nervous. Still, I've sold cheap OTM credit spread 10 of them for July 26 calls @ .31, and 28 calls @ .20 for a credit that would have made me an "easy" $110 or so.
    Then the ToS tape has this message popping up right after I am in... Screen Shot 2020-07-06 at 2.50.52 PM.png
    I flattened my position took a haircut for $60. Was it a stupid thing to do? I would not have slept well, that much is for certain. I figured that $110 is not worth it. That stock can run up to $35 in no time. Plus it is COVID related...
     
  2. INO is up to $24...I am glad I am out of the options. Still, I could have hold it but tomorrow it can run up 5 points.