my options playbook: despac first earning that was delayed

the nklr earnings is just posted today. this is their first earnings report after despac. the iv crush happened so quickly I cannot react fast enough. also, it was delayed by a few days. my cover experienced a large iv crush. it is pretty much worthless now so I earn 100% of the cover. I also get to keep the stock it is covered for.

this stock has so much potential. I kind of overkilled on the cover distance. I was expecting a massive bull run on this stock but it went the other direction for a while. it should be going back up now. Michael burry short burning was a major catalyst for the current run. it was not enough to reach my cover though. I am considering a few fancier options strategy on this, now that the iv crush is over

learning points:

sell options to earn from the temporarily elevated iv. buy options after the crush. don't time the crush. options is very flexible and depend on my creativity to maximise my gains