Ahead of the earnings announcement I sold the Oct 16 expiry $75 put strike on Yum Stock for .76 cents. In my comments at that time I indicated that if earnings surprised to the downside the stock could easily reach my $75.00 strike and could move through that support down to $72.50.
I did not expect the stock to plunge to $68.00 after hours on Tuesday. While certainly disappointing, my trade is far from lost. I am holding …………The rest of this rescue strategy article is for members.
YUM Stock – Color Code Rescue Strategy After The Plunge – Oct 7 2015
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