Recount in Florida!
Well, $1.65 on /RB is a little crazy. In the STP, let's add:
- Buy 30 UGA Jan $28 calls for $2.00 ($6,000)
- Sell 30 UGA Jan $31 calls for 0.80 ($2,400)
That's net $3,600 on the $9,000 spread and figure we'll cut and run at $1,800 so risking that to make up to $5,400 if all goes well.
Big picture the move was $25 to $37.50 so 50% move up and that means, unless we're making new lows, that $27.50 should be good support (weak bounce of a full retrace) and $30 really should be bouncy (strong bounce) so this is a good spot to give the longs a shot.