Option Strategies: ONON

Selling For Premium
03-11

Hello everyone! Today I want to share some option strategies with you!

1.

Trade idea on $On Holding AG(ONON)$

Earnings Date: March 12 before market open Expected

Move: ~13% (could change on Monday)

Trade: Sell-to-open a Strangle, March 15 expiration, 24 put & 45 call strikes

Points of consideration:

- ONON hasn't seen the 45 level since Fall of 2021

- Previous bottom is around the 24 level

- Strong volume support and point-of-control at the 28 level

- Target strikes are 2-3X the expected move

- Probability-of-Profit (PoP) on an Iron Condor spread trade using the same short strikes is 86%

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Comment（2）

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  • Tom Chow
    ·03-12
    good
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  • Tom Chow
    ·03-12
    good
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