The report came out and it must be something like 'huge jump in stock nat gas'. Nat gas dropped -8% or more instantly and my Apr 4 put option suddenly went in the money. I thought it could come down, but wow, I didn't expect this much.
At this point, I don't know if this will expire worthless or I'll get assigned since Apr contract's futures price hubbering around 4. I have to offset tomorrow if I do get assigned, which my broker will not like because futures expire very next day. They are going to freeze my account so that I don't trade any more Apr contract and I have to call to unfreeze so that I can offset.
I don't know if this is good news or bad news, but if it expires worthless, I'll try to sell May 4 put around 0.3 or $3000. If I get an assignmenst, great my avg cost got lower, so I'll roll it over to Jun contract and modify my 5.25 call short limit order to 4.75 call.
All in all, I'd like to make about $10K on this whole trade. NG market closes at 2:30 PM ET, so I'll keep an eye on it.
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