Option Strategies: GTLB
Hello everyone! Today i want to share some option strategies with you!
1.
Pre-earnings trade idea on: $GitLab, Inc.(GTLB)$
Earnings date: Tuesday, Sept. 3 after market close
Expected move: ~13%
Pre-Earnings Trade Idea:
- Sell-to-open a cash-secured put, Sept 6 expiration, 37 strike
Points to Consider:
- Expected move places downside to 41 and upside to 54 (subject to change based on next week's price action)
- Short put strike target is 2X the expected move
- Unfilled gap still lurking at the 37 level
Post-Trade Actions:
- The put is cash-secured and the goal is assignment of shares at that price; however, if you are trading naked and don't want shares, then either pick a lower strike to target or be prepared to close for a loss or roll down-and-out if the strike is breached
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