I recently mentioned in the X / Twitter stream, I’ve been looking at PLTR for a possible play.
And in this environment? I’m primarily interested in high probability bets, or trades with a high probability of success. And if they do turn against me? They are bets that are quite easy to defend, if something goes wrong. Jefferies downgraded PLTR and the stock has been rising since the open. So with those thoughts in mind as a bullish play?
This morning, I went ahead and pulled the trigger selling cash covered puts on PLTR. For the GTC portfolio, this is going to translate into selling ONE (1) PLTR February 26 13.50 Put, cash covered, for 0.12. IVR was 7.1 with the VIX at 13.33, so not a lot of ‘juice’ so to speak. There were -0.11 Deltas on the Put(s) sold and the PoT was 25%. Expected Range at the time, was $14.50 and the DTE is 28.
Adding that one to the pile of high probability trades this month.
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