The protective put deal would have worked out for an earnings disappointment like this. However, the report wasnt all gloom. I have no exit price at this point. The typical would be a trailing stop of 10% (i am looking long and looking to avoid being tax 35% vs. 15% on securities cashed <1 yr.) Anyway, prior to earnings the stop/exit would have been $67ish. If that's the case your protective put would have been 67.5 or even 65 (worst case scenerio).
being that i didnt have any free capital. i left it alone. what i could have done was sell a share and get my protective put aka insurance.
The aftermarket action of $5 in the red may narrow by the premarket tomorrow (or widen). The FED also will have a say on how much the economy stinks and a rate cut to boot. Anything can happen when the FED is involved.
Suffice it to say, a price drop for V could actually just bring in more buyers. I am still in the green on this and remain an investor NOT a trader for the time being.