NuSkin announced earnings for Monday before the open.
We currently have a short put play on Nuskin that was $10 out of the money this morning. They were scheduled to report earnings on Feb 20th but preannounced a couple weeks ago. On Thursday they announced their new earnings date would be Monday.
With NUS trading right at $86 this morning I was going to let the play run since they are in rebound mode. However, the sharp drop in the market this afternoon knocked them back to $83 and I am worried this market drop could continue.
When the market collapses so quickly from a new high, regardless of the reason, we need to be concerned the drop could continue at least for a couple days. With Nuskin falling with the market I want to reduce our risk and exit this position.
Buy to close the March or April $75 put, whichever strike you entered.
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