Option Strategies: MNDY
Hello everyone! Today I want to share some option strategies with you!
1.
Trade idea on $Monday.com Ltd.(MNDY)$
Earnings Release Date: - Wednesday, May 15, before market open
Trade Idea: - Sell-to-open a strangle, May 17 expiration, 120p & 260c strikes
- Short strikes are outside the expected move range (30+% to the downside and 40+% to the upside as of today's closing price)
Points of Consideration: - Expected move of ~14%
- 200EMA at the 185-186 level
- Recent high around the 240 level (challenged twice and failed to break through)
- An iron condor trade using the 120p & 260c short strikes has a percent-of-profitability (PoP) of 87%
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