Tony starts with a call ratio in MU as the stock gapped up on May 21st.
The stock continues to move higher which made the case to sell a put to increase breakevens. Unfortunately, after selling a put the stock immediately whipsawed downward increasing losses.
After rolling up and out into a straddle, Tony was able to close this out for a scratch!
The concept of duration over direction plays a prominent role in this segment. Even if you are directionally wrong, time can heal a bad trade.