Option Strategies: PANW& SNOW

Hello everyone! Today i want to share some option strategies with u!

1.

Our pre-earnings optionselling trade idea on $Snowflake(SNOW)$ .

Earnings Date: Aug 21 after market close

Expected Move: ~11%

Points to Consider:

- Earnings have been negative the past two announcements, so SNOW might be due for a big move back up if management has improved the concerns of institutional analysts/traders

- Volume point-of-control and longer-term resistance around 160 with what looks to be shorter-term resistance around 128 (current level).

- Broader market and tech (especially) in bounce-back mode

- Lowest point ever was reached last week at 108

- 200EMA at 153

Trades We Are Taking:

- Sell-to-open Aug 23 expiration $150 strike call. We have a long position, so this would be a covered call trade, and we are happy to lose shares at this level. If we were to trade naked calls, then we would target the $160 strike (or higher).

- We don't want more shares, but if we were to sell a cash-secured put then it would be at the $100 (or lower) strike.

- Might hedge our long position and buy puts at $105 strike or buy a 105/100 put debit spread.

2.

Our pre-earnings optionselling trade idea on $Palo Alto Networks(PANW)$ .

Earnings Date: Monday, Aug 19 after market close

Expected Move: ~9%

Trade We Are Taking:

- Sell-to-open Aug 23 expiration $280 strike cash-secured put. This will be to pick up shares. If we trade a naked put, it will be at the 260 (or lower) strike.

Points To Consider:

- This trade will be straight-forward for us. We are targeting the recent BTFD bottom, which also happens to coincide with a strong volume support bar and volume point-of-control.

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