Big swings in the market again today leading up to the mid-term elections.
The VIX is up a bit but I am not concerned in the short term.
The market could move either way tomorrow, which is why one of the safest options trading strategies is to trade strangles on the major indexes (QQQ, SPY, IWM). They do, however, require normally between $6-8k capital.
So what's my trade for today?
#DIS (#Disney). Another earnings play with a wide strangle. The only thing I look when I trade earnings is the stability and propensity for large swings. If a stock has large moves during earnings then it's best to stay out of it. I consider Disney fairly stable.

The stats
Trade Type: Short Strangle
Strike: $85 / 115
Expiry: 18 Nov
Delta: 0
IV Rank: 57.9
Premium: $0.93
Cap Req: $956
Annualised Prof at Expiry: 355%
Let me know what you think.
Perfect trade!
Closed at $0.12 for an annualised profit of 1,031%.