Option Strategies: MU& FDX
Hello everyone! Today I want to share some option strategies with you!
1.
Executed the optionselling strangle trade on $Micron Technology(MU)$ . Sold the Mar 22 exp 76p & 130c strikes.
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2.
Our optionselling plan on $FedEx(FDX)$ heading into earnings tomorrow.
Earnings Release Date: March 21 after market close
Expected Move: ~5% by March 22 close
Our Current Position: - Mar 22 exp 265 strike covered calls - Mar 28 exp 270 strike covered calls
Pre-Earnings Trades: - Buy-to-open a put debit spread to hedge our downside risk ... Mar 28 expiration, 247.5/242.5 strikes (volume support and point-of-control at 248) - Sell-to-open a call credit spread to take advantage of this upside run ... Mar 22 expiration 290/292.5 strikes (gap at 278 and 290 strike is 2X the expected move from 260 ... *subject to change with FDX price action tomorrow)
Post-Earnings Trades: - Sell-to-open a cash-secured put at the 265 strike (or lower) Mar 28 expiration if we get called out of our 265cc position
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