Overlay · STW
MITK
Mitek
Plan
- Cut
- Daily close below $16.
- Take profit
- Harvest through 20.
- 5× Jan $12.50C, blended $6.31, $3,155. Spot ~18.56. 20-day 17.90, 50-day 18.13.
- Cut: close below $16. Year-end print late Oct.
- Through 20. Same stop on all five.
The take
Rolled. Sold 3× $17.50s @ $3.55, bought 3× $12.50s @ $6.65, $930 debit. Now 5× Jan $12.50C, open $3,155. Spot ~18.20. You paid to stay in the name and dump the strike that was dying.
New stop is a close under $16 — not $17.50. Harvest through 20. Don’t add a sixth. Don’t roll the $17.50s back on.
Expression
- 2× Jan ’27 $12.5C @ $5.8
- 3× Jan ’27 $12.5C @ $6.65
$3,155 cost · 143d
Tape
Marking…
Stop
Close below $16
You rolled off $17.50 because that strike was dying. The new stop cannot be $17.50. $16 is the swing. Lose it and five $12.50s are a hope pile.
Outlook
- FY26 year-end / Q4 (est.)Late Oct · before expiry
Through 20. Cut $16. All five.
News
Quiet on this name.