JDSU had earnings last night and it was not good. Last night, in after hours, it went down 8%. This morning, it will be gapping down drastically. Take contracts off appropriately i.e. take 90-95% of them off since you will have vega and delta on your side. Let the rest ride until technicals tell you the downward movement is over.
The options were bought at 0.40/contract. It should be greater than $1.00 this morning especially since the ES mini futures down already.
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