From Theory To Practice - May 21, 2019 - Portfolio Analysis - Going Inverted on BIDU

 
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With BIDU continuing to crater after its earnings announcement, the time has quickly come for us to [move to an Inverted Strangle.](https://www.tastytrade.com/tt/shows/from-theory-to-practice/episodes/inverted-adjustments-06-13-2016) The Short Straddle that we currently have on just doesn’t have any extrinsic value left in it, and the [Expected Move](https://tastytrade.com/tt/shows/from-theory-to-practice/episodes/expected-moves-at-price-extremes-09-28-2016) going all the way out to August suggests are best bet is for BIDU to possibly rally to $130. Thus, we bite the bullet, and make this adjustment.

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