$HIMS 20250703 40.0 PUT$ HIMS: Staggered 3 trades for cash secured puts with different time frames and different strokes. 1) Collect 1.85% premium for this cash secured puts with strike at $40 and expiring on 3rd July. 2) collect 3.05% premium for this cash secured puts with strike at $39 and expiring in 2.5 weeks on 11th July.3) Collect 3.65% premium for this cash secured puts with strike at $38 and expiring in 3.5 weeks on 18th July. Won't know how low HIMS might go down before settling therefore instead of selling 3 puts at 1 go, decided to spread it apart to reduce risk and a more gradual capital assignment if it ends in the money. HIMS suffered a catastrophic drop of single day 35% from on Mon 23rd June on news or Novo Nordisk terminating their partnership to market and sell their weight loss drugs. While the initial damage is great, due to loss of access to such profitable drugs, and Novo also put in strong worded claims that HIMS were selling alternatives (legal knockoffs) that eats into Novo's patented Wegovy. This is my personal view on this and is the thesis behind these trades. Legal issues aside, HIMS knowingly push clients to take in the legal knockoffs, upsetting their major client Novo, would probably meant that the HIMS gets better margin with the legal knockoffs. While the total revenue will drop due to the termination of the partnership, I believe many clients will still stay with HIM and agreed to use the legal knockoff versions as long as the price is cheaper and efficacy of the drugs remained comparable. This meant that HIMS profit margin could increase on lower revenue due to this move. Looking to accumulate on the low, or at least profit using options. At this moment, the timing of the trades are off and price is still falling so trades are temporary in the red but yet to hit the strike prices so the outcome is yet to be decided.