This is about the worst thing that can happen to you when you get into a trade - it reverses on you big time the very next day. The reason for this was news. This stock was downgraded from "Outperform" to "Neutral", couple that with the huge move yesterday we got the double-whammy. No worries, we're still in the fight.
This is a great example to show you that you never know what's going to happen - because NEWS can really make or break you sometimes and there's just now way to guess what the NEWS is going to be.
It did not hit our price stop nor our 50% value stop so we are still in it.
However, I did sell an October 36 Call Option to offset some of the loss. I got $0.40 for the sale of that option. I'm planning on this either going sideways for awhile and then going back up, or it will just start climbing back up from this point.
But at this point, I've taken action by selling the October 36 Call Option to help out the position.
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