Friday morning MCK announced earnings that drove the stock way down. I was in surgery at the market open so I was not in front of my screens. When I finished my surgery around 10am EST I noticed that MCK was down but trending up. I put in an order to sell three 3/2 spreads (-9, +6 contracts) at $1.00 debit. It had been down as low as $0.57 earlier, but it was trending up a lot as you can see in the below chart (click any picture to enlarge).
At 10:30am MCK moved down to a low of $60.96 and my order executed. My subsequent orders at $0.80, $0.65 and $0.50 never executed as MCK rose the rest of the day and the orders expired. This morning I’m holding the rest and watching. I’m now in a good theta positive place as you can see in the below analyze tab. If MCK moves up I will get out of the rest at around breakeven for the remaining contracts keeping a small profit from the first contracts removed. Only major problem will be if MCK rallies very quickly or in the afterhours session.