On 8/10 or 8/11, consider $ASTR – Astra Space Inc Class A has earnings on 8/12. Money Vikings have a bullish assumption in this one. We’re Selling a put to finance the call. Earnings could be the catalyst we need to push it higher. If we’re correct and the price goes up, we capture the upside from our call. If we’re wrong, we’re obligated to buy 100 shares of the stock at $10.00/share. If you don’t want to buy, you could alternatively roll out another month to October.
- Buy a 9/17 12.50 call for around 1.60 – 1.70 (debit)
- Sell a 9/17 10.00 put for around 1.10 – 1.20 (credit)
Pay a small debit to enter the trade (.51 at the time of this writing)
-Jerry & Bob