Option Strategies: OKTA

Selling For Premium

Hello evreyone! Today i want to share some option strategies with you!

1.

Earnings trade idea on: $Okta Inc.(OKTA)$

Earnings date: Tuesday Dec 3 after market close

Expected move: ~13% (subject to change on Tuesday)

Pre-Earnings Trade Idea:

- Debating what to do here ... looks like OKTA might be setting up for an upside move post-earnings, but we don't have a good feel for it

- If we do write options, it would be to sell the Dec 6 expiration put, 55 or 60 strike

Post-Earnings Trade Reactions:

- Buy-to-close if OKTA stays above put strike and IV crush kills the premium to position the trade in profit

- If the underlying breaches the put strike, then close for a loss or roll to a lower strike and farther-out date to get either a worthless expiration or get a better entry price for assignment (depending on earnings results and forward guidance)

- Close for a loss to avoid assignment of shares

Points to Consider:

- OKTA is trading below the 200EMA at the 83 level

- 2X the expected move places downside to around 57 and upside to around 97

- Big unfilled gap at the 95 level (we might buy the 90/95 call debit spread to play as a lotto)

- Volume support and point-of-control at the 72 level (based on the selected daily timeframe)

- Not a lot of support down to the 44 bottom if OKTA breaches 65

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Today i want to share some option strategies with you!</p><p></p><p>1.</p><p>Earnings trade idea on:  <a data-mention-id=\"OKTA\" class=\"teditor-mention\" data-mention-name=\"Okta Inc.\" href=\"https://ttm.financial/S/OKTA\">$Okta Inc.(OKTA)$</a> </p><p>Earnings date: Tuesday Dec 3 after market close</p><p>Expected move: ~13% (subject to change on Tuesday)</p><p>Pre-Earnings Trade Idea:</p><p>- Debating what to do here ... looks like OKTA might be setting up for an upside move post-earnings, but we don't have a good feel for it</p><p>- If we do write options, it would be to sell the Dec 6 expiration put, 55 or 60 strike</p><p>Post-Earnings Trade Reactions:</p><p>- Buy-to-close if OKTA stays above put strike and IV crush kills the premium to position the trade in profit</p><p>- If the underlying breaches the put strike, then close for a loss or roll to a lower strike and farther-out date to get either a worthless expiration or get a better entry price for assignment (depending on earnings results and forward guidance)</p><p>- Close for a loss to avoid assignment of shares</p><p>Points to Consider:</p><p>- OKTA is trading below the 200EMA at the 83 level</p><p>- 2X the expected move places downside to around 57 and upside to around 97</p><p>- Big unfilled gap at the 95 level (we might buy the 90/95 call debit spread to play as a lotto)</p><p>- Volume support and point-of-control at the 72 level (based on the selected daily timeframe)</p><p>- Not a lot of support down to the 44 bottom if OKTA breaches 65</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/18c3dc662ef3e357ec47db2c9a66d84d\" tg-width=\"1273\" tg-height=\"957\"></p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9e2d142e74b40e515267d3bd4400199a\" tg-width=\"656\" tg-height=\"935\"></p><p></p><p><em>Follow me to learn more about analysis!!</em></p></body></html>","htmlText":"<html><head></head><body><p>Hello evreyone! Today i want to share some option strategies with you!</p><p></p><p>1.</p><p>Earnings trade idea on:  <a data-mention-id=\"OKTA\" class=\"teditor-mention\" data-mention-name=\"Okta Inc.\" href=\"https://ttm.financial/S/OKTA\">$Okta Inc.(OKTA)$</a> </p><p>Earnings date: Tuesday Dec 3 after market close</p><p>Expected move: ~13% (subject to change on Tuesday)</p><p>Pre-Earnings Trade Idea:</p><p>- Debating what to do here ... looks like OKTA might be setting up for an upside move post-earnings, but we don't have a good feel for it</p><p>- If we do write options, it would be to sell the Dec 6 expiration put, 55 or 60 strike</p><p>Post-Earnings Trade Reactions:</p><p>- Buy-to-close if OKTA stays above put strike and IV crush kills the premium to position the trade in profit</p><p>- If the underlying breaches the put strike, then close for a loss or roll to a lower strike and farther-out date to get either a worthless expiration or get a better entry price for assignment (depending on earnings results and forward guidance)</p><p>- Close for a loss to avoid assignment of shares</p><p>Points to Consider:</p><p>- OKTA is trading below the 200EMA at the 83 level</p><p>- 2X the expected move places downside to around 57 and upside to around 97</p><p>- Big unfilled gap at the 95 level (we might buy the 90/95 call debit spread to play as a lotto)</p><p>- Volume support and point-of-control at the 72 level (based on the selected daily timeframe)</p><p>- Not a lot of support down to the 44 bottom if OKTA breaches 65</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/18c3dc662ef3e357ec47db2c9a66d84d\" tg-width=\"1273\" tg-height=\"957\"></p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9e2d142e74b40e515267d3bd4400199a\" tg-width=\"656\" tg-height=\"935\"></p><p></p><p><em>Follow me to learn more about analysis!!</em></p></body></html>","text":"Hello evreyone! Today i want to share some option strategies with you! 1. Earnings trade idea on: $Okta Inc.(OKTA)$ Earnings date: Tuesday Dec 3 after market close Expected move: ~13% (subject to change on Tuesday) Pre-Earnings Trade Idea: - Debating what to do here ... looks like OKTA might be setting up for an upside move post-earnings, but we don't have a good feel for it - If we do write options, it would be to sell the Dec 6 expiration put, 55 or 60 strike Post-Earnings Trade Reactions: - Buy-to-close if OKTA stays above put strike and IV crush kills the premium to position the trade in profit - If the underlying breaches the put strike, then close for a loss or roll to a lower strike and farther-out date to get either a worthless expiration or get a better entry price for assignment (depending on earnings results and forward guidance) - Close for a loss to avoid assignment of shares Points to Consider: - OKTA is trading below the 200EMA at the 83 level - 2X the expected move places downside to around 57 and upside to around 97 - Big unfilled gap at the 95 level (we might buy the 90/95 call debit spread to play as a lotto) - Volume support and point-of-control at the 72 level (based on the selected daily timeframe) - Not a lot of support down to the 44 bottom if OKTA breaches 65 Follow me to learn more about analysis!!","highlighted":1,"essential":1,"paper":2,"likeSize":21,"commentSize":0,"repostSize":2,"favoriteSize":0,"link":"https://ttm.financial/post/377276834996624","repostId":0,"isVote":1,"tweetType":1,"viewCount":582,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["OKTA"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":true,"length":1097,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/377276834996624"}