I'm not personally doing this trade, but MANY are looking at JCP as a 'buy low, sell high'. I'm not a big fan of the options / premium / strikes on JCP.
A few of my trader buddies are looking at $6 March put sales. Just know this trade could easily take 6+ months to work. Thus the trigger for protective puts to avoid whipsaws.
A few of my trader buddies are looking at $6 March put sales. Just know this trade could easily take 6+ months to work. Thus the trigger for protective puts to avoid whipsaws.
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