1️⃣ Why am I making this trade now?

Initially I have sold the Oct 16 8 puts to capture high IV and to collect premium on Ondas (ONDS). The recent price action looks weak and broader small cap market is also weak, therefore I decided to close some of my puts position to manage my risk and also to lock some profits. I still have other puts positions to capture more premiums if possible.

2️⃣ What’s my plan from here?

I am stepping back and awaiting more consolidation to evaluate and add more puts if price action permits. Hope ONDS will perform favorably on its revenue guidance and backlog conversions. Alternatively, if upcoming quarters show a slower-than-expected ramp up in commercial deployment, I will remain more cautious in my approach.