Option Strategies: FDX, ACN& .SPX
Hello everyone! Today i WANT to share some option strategies with u!
1.
Contemplating taking another optionselling trade on $S&P 500(.SPX)$ . the Dec 18 expiration 4725/4720 put credit spread. This would be a bet on SPX not coming back to where it opened at today based on its currently bullish price action. Will post confirmation if we take the trade.
2.
Earnings trade idea on $Accenture PLC(ACN)$
Earnings Release: Dec 19 before market open
Expected Move: ~4% for Dec 22 weekly close
Entry: Sell-to-open an Iron Condor at the Dec 22 expiration and targeting put strikes around 310 and call strikes around 375. These strikes are 2X outside the expected move range. There is volume node support around 310 and 277. Note that strikes selected will be dependent on trading price of ACN at time of trade.
Exit: Goal is to close out this trade or let it expire worthless for profit. If one of the legs gets jeopardized, then will either roll the leg or close out for a loss.
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3.
Earnings trade idea on $FedEx(FDX)$
Earnings Release: Dec 19 after market close
Expected Move: ~5% for Dec 22 weekly close
Entry: Sell-to-open an Iron Condor credit spread trade. Contemplating selling strikes at the expected move price levels (which we typically don't do, but might try it this time) ... so, would be targeting to sell the 300 call strike and 265 put strike. Spreads would be 2.5-wide. Expiration date Dec 22. Volume support at the 260 and 228 levels. ATH above the 300 level (WeBull and TradingView have different prices for the ATH ... not quite sure why that is). OptionsAI pegs this IC trade at a 79% probability of profit.
Exit: Close out the trade to capture profit or let it expire worthless for max profit if FDX stays within the short strikes of the IC. If one of the short strikes is breached, then either take the loss or roll the breached leg farther out.
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