We didn’t compare notes before writing our respective bull and bear stories on IOC, nor did we talk before we independently put on our trades.
Still, neither one of us went full-out directional. We each hedged.
Barry’s negative impression led him to short and sell married puts. My bullish impression took me to writing covered calls.
Call us wimps if you like, but when stocks trade to 85% volatility levels, selling volatility to cover your downside if you’re wrong is the kind of move that lets you live again to fight another day.
As it turns out, Barry and I might both make money off this puppy, even though we have 180 degree opposite directional bias.