$IONQ 20250808 33.0 PUT$ I closed $IONQ 20250808 33.0 PUT$  ,IONQ remains range-bound between roughly $37 and $47 since mid-May, reflecting a period of consolidation despite broader momentum in quantum computing equities . Its latest earnings confirmed this pattern. While Q2 revenue jumped 82% year-over-year to $20.7 million, exceeding guidance and analyst estimates, earnings per share missed badly — posting a net loss of $0.70 per share versus an expected $0.30 loss — driving a stock drop of around 4–7% post-earnings . Across the quantum computing sector, results have been mixed: D-Wave delivered strong revenue growth but widened losses, while others showed pockets of strength. This mix helped offset volatility and kept sentiment relatively stable. ⸻ Trading Strategy & Commentary I’ve structured my trades around this range-bound behavior: • Sold puts at lower strikes to potentially re-acquire IONQ shares that were previously called away when my short call got exercised. • Sold covered calls on my remaining shares — combining to form a sort of synthetic short strangle. • Because the share price stayed within the $37–$47 range, all these option contracts expired worthless, allowing me to retain the full premiums — a tidy outcome when markets crawl sideways. Looking ahead, I’m staying nimble: • On days where IONQ hits the high end of the range, I’ll consider opening a new covered call. • If it falls to the lower end, I’ll look for fresh cash-secured put opportunities — aiming to lock in premiums while potentially adding to my position at favorable prices.

IONQ remains range-bound between roughly $37 and $47 since mid-May, reflecting a period of consolidation despite broader momentum in quantum computing equities .

Its latest earnings confirmed this pattern. While Q2 revenue jumped 82% year-over-year to $20.7 million, exceeding guidance and analyst estimates, earnings per share missed badly — posting a net loss of $0.70 per share versus an expected $0.30 loss — driving a stock drop of around 4–7% post-earnings .

Across the quantum computing sector, results have been mixed: D-Wave delivered strong revenue growth but widened losses, while others showed pockets of strength. This mix helped offset volatility and kept sentiment relatively stable.

⸻

Trading Strategy & Commentary

I’ve structured my trades around this range-bound behavior:

• Sold puts at lower strikes to potentially re-acquire IONQ shares that were previously called away when my short call got exercised.

• Sold covered calls on my remaining shares — combining to form a sort of synthetic short strangle.

• Because the share price stayed within the $37–$47 range, all these option contracts expired worthless, allowing me to retain the full premiums — a tidy outcome when markets crawl sideways.

Looking ahead, I’m staying nimble:

• On days where IONQ hits the high end of the range, I’ll consider opening a new covered call.

• If it falls to the lower end, I’ll look for fresh cash-secured put opportunities — aiming to lock in premiums while potentially adding to my position at favorable prices.