NTNX- neutral nutanix

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This trade is neutral because it is placed as far away as I could for a minimal debit. You could say that it is bearish because I make money if NTNX drops but you can also say it is bullish because I have 2 uncovered puts which means I will have to get long if price drops considerably. I sold a 2 lot in April with 48 days to expiry. On such a big drop it is wiser to wait for the "3 day rule" but I am going to enter on day 1 and see what happens. I.V. rank is 53% and I sold 4 of the 27.5 puts and bought 2 of the 30 strike puts for a small debit of .05 I normally want a credit for this trade but the 2.5 wide strikes are a pain in the a$$ especially in low cost underlyings such as this. I will take this trade anyways as I have very little bearish exposure and we have rallied pretty fast and furiously already. This will give me the width of the spread as profit if we fall all the way through my strikes of 2.50 minus the short strike of 27.5 for a basis of 25 which looks like decent support on a long term time frame (big base before the first rally). Wish me luck

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Trade is closed......options expired worthless .10 loss plus commish