Option Strategies: SOFI, ENPH& FDX
Hello everyone! Today I want to share some option strategies with you!
Took advantage of this morning's pump and sold calls per our optionselling plan.
- $SoFi Technologies Inc.(SOFI)$ 9.5 strike (covered)
- $Enphase Energy(ENPH)$ 135 strike (naked)
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Optionselling trade idea on: $FedEx(FDX)$
Earnings date: Sep 20 after market close
Expected move: ~4.4% via
Entry: Sell-to-open an Iron Condor at strikes 10+% outside the expected move range based on FDX's trading price on Wednesday. Past earnings moves have stayed within +/-5%, but there is always a possibility it could have a larger-than-expected move. It is showing a fall in net options sentiment. We are targeting the 225p and 275c strikes.
Exit: The goal of this trade is to capture premium as profit. Buy-to-close or let expire worthless both sides of the trade if FDX stays within the strikes sold. If FDX breaks the call strike or put strike, then buy-to-close out for a loss the jeopardized leg.
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