GPRO -- HIGH IV RANK/HIGH IV/PREMIUM SELLING WORTH VIDEOTAPING
Well, it's probably not worth videotaping, but with earnings to be announced after hours tomorrow and IVR/IV both at 90+, it's worth selling premium in ... . If you feel the need to videotape that, well, then, go right ahead ... .
Due to the price of the underlying, I am going short strangle with this one:
Nov 6th 23/34 Short Strangle
POP%-age: 74%
Max Profit: $101/contract
BPE/Max Loss: Undefined
BE's: 21.99/35.01
Liquidity: 6-8 cents wide at given strikes (not ideal, but you're still likely to get a fill at or near the mid price for the setup).
Notes: I'm going out another week because the number of days to expiration is just too tight for me to manage with a day job. Additionally, given the way this thing's been absolutely hammered into the ground, I could understand going slightly (or even more than slightly) bullish with this one, in which case you could skew the setup to the upside.
Due to the price of the underlying, I am going short strangle with this one:
Nov 6th 23/34 Short Strangle
POP%-age: 74%
Max Profit: $101/contract
BPE/Max Loss: Undefined
BE's: 21.99/35.01
Liquidity: 6-8 cents wide at given strikes (not ideal, but you're still likely to get a fill at or near the mid price for the setup).
Notes: I'm going out another week because the number of days to expiration is just too tight for me to manage with a day job. Additionally, given the way this thing's been absolutely hammered into the ground, I could understand going slightly (or even more than slightly) bullish with this one, in which case you could skew the setup to the upside.