$HOG Iron Fly for earnings
Updated
Buy: 11/22 33p for .49
Sell: 11/22 37p for 1.61
Sell: 11/22 37c for 1.80
Buy: 11/22 41c for .40
Net Credit: $2.52 (Max profit if pinned at $37)
BP Reduction: $1.48
As seen on the chart, was able to cash in on an Iron Condor last earnings cycle in a similar range. Going to give myself a little more time to be right and look to pin $37 in the next 30 days. Not overly concerned with what happens in the morning with earnings, but the binary event gives a nice chance to cash in on IV crush if the underlying shows little movement.
Sell: 11/22 37p for 1.61
Sell: 11/22 37c for 1.80
Buy: 11/22 41c for .40
Net Credit: $2.52 (Max profit if pinned at $37)
BP Reduction: $1.48
As seen on the chart, was able to cash in on an Iron Condor last earnings cycle in a similar range. Going to give myself a little more time to be right and look to pin $37 in the next 30 days. Not overly concerned with what happens in the morning with earnings, but the binary event gives a nice chance to cash in on IV crush if the underlying shows little movement.
Trade closed: target reached
Closing order:Sell: 11/22 33p for .12
Buy: 11/22 37p for .34
Buy: 11/22 37c for 1.44
Sell: 11/22 41c for .11
Buy back for $1.56 netting $0.96 profit (38% of max profit)
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