🐻 $ISRG Print #42 — $1.0M Jan 2027 $385 PUTS. First bear in ten prints. Red-penned 🧵 ❌ MONEYNESS WRONG Card: "OTM: -6%" Reality: strike $385 > stock $365 → ~

🐻 $ISRG Print #42 — $1.0M Jan 2027 $385 PUTS. First bear in ten prints. Red-penned 🧵 ❌ MONEYNESS WRONG Card: "OTM: -6%" Reality: strike $385 > stock $365 → ~5.5% IN THE MONEY (385−365)/365 = 5.48%. Intrinsic value ~$20/share. Not OTM. ✅ CLEAN • Expiry Jan 15, 2027 = third Friday ✓ • Q3 earnings T…