The biggest earnings day is today with many of the large tech stocks announcing their results today so I expect bigger movement in the market overnight.
I have a growing number of position that I haven't been able to close yet due to the volatility expansion but the beauty of options trading is that you can keep the dream alive for as long as it make sense.
What's my trade for today?
#LVS ( #LasVegasSands ). This stock already had its earnings and is currently trading very low, which is understandable, but what matters more is that its IVR is still high making the potential return quite healthy for a strangle.
The stats
Trade Type: Short Strangle
Strike: $30 / 44
Expiry: 17 Jun
Delta: 2.8
IV Rank: 66
Premium: $1.6
Cap Req: $360
Annualised Prof at Expiry: 324%
Further adjustment:
https://www.tycoonitos.com/community/market-comments/market-comments-20220414
Let me know your thoughts.
A small winner.
Closed at $2.47 for an annualised profit of 56%.
I could have held this position for longer but I was not comfortable with the risk level.
Rolled down the call side to $35.
Total credit: $2.67
Rolled down the call side to $38.
Total credit: $2.23
Rolled down the call side to $42.
Total credit: $1.82