ASTR Risk Reversal:
– Buy 1 9/17 12.50 Call
– Sell 1 9/17 10 Put.
8/7/21 – Recall we have a 26$ call we sold. Earnings helped this trade out, and the $UIS closed Friday at $24.83. If we subtract out the premium received from all the sold calls ($1.21), our true cost basis is $23.62 at expiration, which means we could have a profit of $121 dollars if nothing changes between now and 9/17. We will break even as long as the stock stays above $24.29 (Entry of $25.50 – premium collected $1.21). If you are sick of this trade and want to bail, the call we sold last week collected $0.59, and is now worth $0.80, so we have a loss there of about $0.21, but netting out the stock’s price of $24.83 and other prior premium collected is $25.50 – $1.00 or $24.50, meaning you could close this Monday morning for a theoretical profit of $33 total. Yes, you can sell the stock for less than you paid for it and still make a profit because of covered calls! Jerry is going to wait an hold as the stock seems to be trending upwards, and broke Bob’s key resistance of $23.90 (blue line below). We also have 41 DTE (Days Till Expiration) and as readers know, we like to close closer to the 21 DTE.
This trade closed with 20% ROI in 10 days for our Money Viking Community. #hottrades – Let’s Crush IV together in Netflix and attempt to make some money if the implied volatility plummets after earnings! Looking to enter a 5 dollar wide Aug 20 iron condor before their earnings . Buy 490 Put, Sell 495 Put, Sell 585 Call, Buy 590 Call. It’s slightly bullish. Trying to collect at least 1.66 (⅓ the width of the strikes).
ARKK – Sell a Naked Cash Secured Put *HOT TRADES* This is a simple, bullish trade for AARK. Sell to open the 7/16 102 Put collecting 1.33
BYND – Beyond Meat, but not Beyond my Strikes – Iron Condor Idea***HOT TRADES*** CLOSED FOR $75 PROFIT!
BYND has high IVR so try this iron condor:
Buy the 7/16 115 Put
Sell the 7/16 120 Put
Sell the 7/16 180 Call
Buy the 7/16 185 Call
Aim for 1.67 in premium.