Earnings coming in 2 days which is clearly a binary event, but based on technicals, I see a the potentiality to short here.
I'm looking at a swing with puts 1 or 2 legs OTM. More than likely, it will be an ATM put debit spread with a leg ITM and a leg OTM.. if you have less funds and a higher conviction, an OTM debit spread 2 legs or so OTM may be a try.
If you're willing to take a longer swing and have the funds to do so, you may look to go even further OTM, but always remember, OTM is not for everyone and you should make sure you understand the greeks and the risks involved with intrinsic versus extrinsic value.
Again, be careful because earnings and volatility are high.. This is probably better to do once earnings passes and IV crush passes. Another option is to open a credit spread to take advantage of IV crush. Premium is much more expensive right now bc of this, so be careful and give this swing time.
I'm looking at a swing with puts 1 or 2 legs OTM. More than likely, it will be an ATM put debit spread with a leg ITM and a leg OTM.. if you have less funds and a higher conviction, an OTM debit spread 2 legs or so OTM may be a try.
If you're willing to take a longer swing and have the funds to do so, you may look to go even further OTM, but always remember, OTM is not for everyone and you should make sure you understand the greeks and the risks involved with intrinsic versus extrinsic value.
Again, be careful because earnings and volatility are high.. This is probably better to do once earnings passes and IV crush passes. Another option is to open a credit spread to take advantage of IV crush. Premium is much more expensive right now bc of this, so be careful and give this swing time.