I am buying back the MGM Apr 20 Call for 0.30 on the severe share price drop and buying shares outright. The new position is
MGM Apr -17 Put for 3.00 credit.
MGM 100 @ 9.77.
I will consider selling calls on a pop in share price or buying more shares or selling puts on another share price drop.
I am expecting much more volatility. Peak panic hasn’t set in yet considering peak COVID-19 cases in New York are estimated to occur about May 01.