Option Writer Position Entry Update
BHP gapped down this morning and should have provided an early entry at a better price than we analyzed last night. The options should be available at $2.50 per contract instead of the $1.30 we analyzed. Instead of doing the 62.5 strike, it would have been fine to sell the 60 strike instead.
MOS also gapped down and is currently around $103. It went down nicely to it's 50 DMA and then bounced. The 85 strike put options that were $2.40 are now bid at $3.10.