Repeat put spreads in Cloudera ahead of earnings.

Repeat put spreads in Cloudera ahead of earnings. The stock off 2c to $8.71 Tuesday and 10K Jan 10 puts bought for $2.25 while 15K Jan21 7.5 puts sold at $1.45. The 2X3 diagonal spread appears to roll short puts to Jan21, down 2.5 strikes, and is similar to ratio spreads that printed Monday, with open interest numbers showing 5.5K Jan 10 puts closed and 15K Jan21 7.5 puts opened. The adjustment over the past two days likely monetizes a loss on in-the-money 10 puts that expire Jan2020 after a recent drop in shares, which were whacked for s 20% loss to $11.71 on 3/14 after earnings and notched 52-week lows yesterday, while expressing confidence that it won't fall to less than $7.5 through the Jan 2021 expiration. Next earnings due tomorrow afternoon.