Quick Update on BAC and MS, covering one of the puts that I am short in both structures. Leaving a 1×1 Put Spread on at this point.
MS covered one of the 2 Jan 5 puts for .22, was short it at .38 (original trade here)
BAC covered one of the 2 Jan 2.5 puts for .12, was short it at .28 (original trade here)
This reduces the cost basis of the spread and if the stocks were to sell off again would likely turn it into a 1×2 again.