Option Strategies: PDD, TGT, TOL& .SPX
Hello everyone! Today I want to share some option strategies with you!
1.
$S&P 500(.SPX)$ STO May 21 exp 5330/5335 call credit spread ▫️
Will target a put credit spread around the 5270 strike
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2.
$Toll Brothers(TOL)$ has earnings after the bell today. Looking to take an optionselling strangle pre-earnings trade on it.
▫️ STO May 24 exp 118p & 145c Points of consideration:
▫️ Expected move is ~5%
▫️ IV isn't very high, so the expectation is not for a big post-earnings move
▫️ Past earnings moves have been below 5%
▫️ Both strikes are outside the expected move range
▫️ The 118 put strike is just below a volume support level
▫️ Would have preferred to target the 112 put strike, but there isn't much premium at that strike
▫️ Hitting 145 would be an ATH and a 10% move, which we don't see happening
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3.
$Target(TGT)$ has earnings before market open tomorrow.
Was debating taking an optionselling pre-earnings trade on it, but will just sit this one out.
Big gap at the 110 level. Kinda 🙏🏽🤞🏽 that TGT dumps for earnings so we can sell the 110p post-earnings for better premium.
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4.
$PDD Holdings Inc(PDD)$ has earnings tomorrow ... was not aware of that. 118 level sits at 200EMA. 🤔 ... might sell puts at that level for Friday expiration.
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