Trade Idea - Naked Put on ADBE

Disclaimer: The trades discussed in this blog reflect the author’s personal strategies and decisions. These are not financial advice and should not be considered recommendations to buy, sell, or hold any financial instruments. The author is not a licensed financial advisor. Options trading carries significant risk, and readers should perform their own research or consult a qualified financial advisor before making any investment decisions. Past performance does not guarantee future results.

I opened a short put position on ADBE today. The stock is widly oversold so I'm ok with either getting assigned shares (and do a wheel with a covered call) or rolling this down and further in time a few times.

The Trade

Here is the trade (IV is very high, with the IV rank is 96% since earnings are approaching):

Here is the stock chart, for reference:

As always, I have added this trade in my trade log.

Update: Trade Closed

The trade ended up being a good choice, which proves that a deeply oversold ticker + good company is always a good combo: