Option Strategies: ADBE, ORCL, AMD, AAPL& TSLA
Hello everyone! Today I want to share some option strategies with you! Hope it can be helpful to you.
Trade idea on: $Adobe(ADBE)$
Earnings date: Sep 14 after market close
Expected move: ~5%
Entry: Sell-to-open an Iron Condor or Strangle at strikes 10+% outside the expected move range based on ADBE's trading price this upcoming Thursday. Past earnings moves have stayed within 10% ... no guarantee that happens for this earnings call, but the probability is high that it does. There is volume support around 510-515 and 475. Not much overhead resistance.
Exit: Buy-to-close both sides of the trade if ADBE stays within the strikes sold. If ADBE breaks the call strike level, then close out for a loss. If ADBE breaks the put strike level, then either take assignment of shares, roll contracts forward and lower the strike, or close out for a loss.
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Gonna be at the Salesforce Dreamforce conference. That said, will try to sneak in these Sep 15 expiration trades tomorrow morning and let it ride thru the week (with CPI and big news events happening.
- $Oracle(ORCL)$ put spread selling the 110 strike / got a call spread already in play for earnings after market close on Monday
- $Advanced Micro Devices(AMD)$ puts, strike in the 100-103 range
- $Apple(AAPL)$ puts at 170 strike
- $Tesla Motors(TSLA)$ puts strike tbd
- covered calls on $SoFi Technologies Inc.(SOFI)$ 9 strike, $PayPal(PYPL)$ 66 strike, $Block(SQ)$ $United Continental(UAL)$ $Delta Air Lines(DAL)$ strikes tbd
- $Adobe(ADBE)$ Iron Condor trade (see previous tweet for trade idea).
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