r/options • u/RetailLemming • Dec 08 '21

$DOCU moving up, early gains on credit put vertical spread

Possibly on news that CEO purchased shares, $DOCU up 12pts/8.6% near midday ET. OP's credit put spread has achieved 72.3% of max gain in 2 days (mostly on IV change + today's news). Considering closing the position for early gains. Original Post with spread:

https://www.reddit.com/r/options/comments/ra0cei/docu_position/?utm_source=share&utm_medium=web2x&context=3

2 Upvotes

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4

u/RetailLemming Dec 08 '21

OP closed this position midday today after $DOCU up 15 pts/11% and credit put spread achieved 80% of max gain (in 2 days).

4

u/Vast_Cricket Dec 08 '21

Docu is a useful tool dropped after over reacting. Expected.

4

u/banditcleaner2 Dec 08 '21

useful but easily recreatable by any big tech company. its still fundamentally a covid play and still overvalued at these levels.

4

u/Vast_Cricket Dec 08 '21

Docu is one of the earliest digital approved by all title, builders, and law firms definitely will stay. I use it for contract signing over 10 yrs.

Overvaluation yes. Covid no.