I closed my short puts at roughly 2:15 PM eastern time today on PLTR and PTON because implied volatility tanked.
I bought back the 5 puts on PLTR for $.25 each (from $1.25 each) and the put on PTON for $.76 (from $5). They had gains of roughly 80-85%.
I’ve noticed PLTR often has a morning dip (first 30 minutes of trading), so I plan to sell a similar weekly put if that happens tomorrow. I’m still bullish on both stocks, but it seemed like the right move to close out the puts for the 80-85% gains and reevaluate tomorrow based on the price action.