There was quite a bit of short-squeeze in yesterday’s leap, making it hard to predict whether the day’s highs will endure.  You could not have bought May 56 puts as advised because  strikes recently listed above $50 are at $2.50 intervals. Still, because a subscriber reported buying May 55 puts for 1.40, we’ll use that price to track the position for your further guidance.  Assuming four puts owned (or a multiple thereof), offer two to close today for 1.60.  if the stock is weak on the opening, we are likely to be filled at a better price.  You should also offer two May 50 puts short for 1.20, good-til-canceled. ______ UPDATE (1:40 p.m. EST): We sold the puts on the opening for 1.60, lowering the cost basis of the two puts we still hold to 1.20.  One might think that after 35 years in the game, I’d have enough street savvy to have avoided getting ripped off by the dirtballs who make option markets in this stock (in all stocks, actually). Alas, I have to keep reminding myself that selling market-   or limit-on-opening is nearly always a losing game.  In this case, the stock made highs and lows $1.21 apart on the opening bar, allowing both the NYSE specialist and option market-makers more leeway than usual in fleecing retail customers before the dust had settled. A relative handful of puts trade near 1.60 on the opening rotation, but as soon as the supply of them from the likes of us had become exhausted, the market makers  took them up to 1.95 (there were no trades between 1.65 and 1.85)  and shorted a bunch in anticipation of a snap-back rally in the stock. When this occurred (the specialist is a thief just like the market-makers, and although there is no formal collusion between the two, they know what to expect from each other), they were able to cover for as little as 1.42 puts shorted just minutes earlier for 1.95.