Hi Coral,
Thanks, I hear you but want to fully understand this stuff.
- I do not think the details of what is happening here will be found in any book.

I think what is/may happen with the Si market presents a unique opportunity to gain some insight in real time.

I have a total of $230/275 in this, without/with comm.

I don't care if I lose it.

The premise here is/was that Si had a parabolic rise and it would experience a parabolic fall within the time frame of the options.

Waiting TOO long to buy the puts would make them correspondingly more expensive as Si falls as "expected". So I decided to stick my toe in the water.

Clearly, I bought the 18P's too early.

Right now, I'm ahead $50 on the lot, deducting comm. I'm even and I'm pretty sure there is another comm. on the sell transaction.

So, with 46 days left, 16 before getting into the last 30 days, I assume Si will decline further. It may decline dramatically, It may not.

I think your original comment was look at selling a Put one strike below for each put that I bought, and letting them all expire worthless. I will price that out, and correct me if wrong on this before I go through the work.

Keep in mind, this is an "educational exercise" not trading advice !! The only way I will ever understand this stuff is by "doing" and I'm willing to spend $275 to accomplish that !!

Thanks, Lee