Last week I bought DDS put Nov 08 put at $2.5. It has been quite a loss. So I’m going to sell Nov 08 put to offset the loss. If the stock went down, I will loss from the sell of Nov 08 put at $5, but will reduce loss from the buy of Nov 08 put. This will create a Vertical Credit Spread, which have the same expiration months.

Tags: buy put, credit spread, DDS, sell put, Vertical Credit Spread