PLX puts

As I expected PLX opened with a decent gap up. I think it traded as high as $8 in the pre-market. I bought some May $7.50 puts (4% of NAV) first thing and got in for $70 per contract. So far this is working out quite well with the stock down to ~$7 from an open of $7.69. The last price on the options is currently $100 per contract (so up 43%).

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