I am`modeling the position in thinkorswim, and I see that the open interest on the July 40 put is only 43 contracts?
Yeah, I think so, as the gains would be around 6,000 with the prices you are looking for. The straddle looks to be around 5.60 midpoint.
it will trade in a tight range now that the news has settled down. i made my trade on this last week, i may wait it out, but on any pullback, MGA is a buy. next resistance level is 62, 200DMA is 67. that's a massive upside 3-6 months out. so the SEP or DEC calls and puts is prob a better play.
Good job. Yeah, that June 35 call is up $55,000 on 200 contracts, so that would have been painful. Why did you want to sell 200 of the June 35 calls if you were bullish?