NTAP Earnings Play

11/13/31 -Closed

• Iron Condor, NTAP @41.23
• STO -1 Nov 43/44C 39/38P
• Credit = .37
• Risk =  63
• ROR = 58% in 2 days

11/15/13 Update:

• NTAP @41.15
• BTC +5 Nov 39P
• Debit = .01
• Net = $36, 56% in 2 days

CRM Earnings Play

11/13/13

CRM reports earnings on 11/18. Here are some possible trade setups. Unfortunately, there aren't any Nov4 strikes between 61 and 65. I will wait until closer to earnings before entering any of the trades. The strikes may have to move and the IV should go up.

First, an IC with $1 wide strikes. Since 61 is the highest $1 strike it has a high chance of being tested on the top.

• Iron Condor, CRM @ 57.13
• STO Nov4 60/61C 53/52P
• Credit = 0.50
• Risk = 50
• ROR = 100% in 9 days
• BE = 52.50 & 60.50

WMT Earnings Play

11/13/13

WMT reports earnings tomorrow before market open. Current IV Rank is low at 41% which is keeping premiums low. Looking back at movement-after-earnings for the past 2 years the stock dropped 6 times while only gaining twice. Here's a possible bearish IC with the expected move shown below.

• Credit = 0.35
• Risk = 65
• ROR = 54% in 2 days

KSS Earnings Play

11/12/13 -Closed

KSS reports earnings on 11/14 before market open. The IV Rank is over 90% and the expected move of +/-2.83 by expiration is represented on the risk profile below. As you can see the break-even price levels are outside the expected move. NOV option vol should contract from 59% down to 28%.

• Iron Condor, KSS @57.33
• STO Nov 60 C (75% OTM)
• BTO Nov 62.5 C
• STO Nov 55 P (75% OTM)
• BTO Nov 52.5 P
• Credit = 0.72
• Risk = 178
• ROR = 40%
• BE = 54.28, 60.72

Update: 11/14/13

KSS opened -$4.65, ouch. Roll the puts and let the calls expire.

• Roll, KSS @54.18
• STO Dec 55/52.5P Nov 55/52.5P
• Credit = .17

Update: 12/18/13

• BTC Dec 55/52.5P @0.59
• Net = $30
• ROR = 17% in 36 days

RAX Earnings Play

11/11/13 -Closed

Here's an Iron Condor based on an earnings play in RAX.

The screen capture is from the morning after (cha-ching!) so ignore the P/L and volatility figures. The price slices represent the MMM of +/-5.29, while a volatility contraction of 75 points is expected (130% to 55%).

• Iron Condor, RAX @49.14
• STO -1 Nov 55 C (80% OTM)
• BTO +1 Nov 57.5 C
• STO -1 Nov 42.5 P (84% OTM)
• BTO +1 Nov 40 P
• Credit = 0.70
• Risk = 180
• ROR = 39% in 4 days

11/15/13 Update

Closed at 50% max profit.

• BTC Nov 42.5/40P @ .35
• Net = $35, 19% in 4 days

PCLN Earnings Play

11/5/13

This is an earnings play on PCLN. We got in a little early because the premium was so good. IV for the NOV2 weeklys is 78% and should drop to around 34% after earnings on 11/7. The expected move of 65 points by expiration is shown on the risk profile.

FB Earnings Play

10/29/31

FB earnings come out on 10/30 after market close. We are looking to place a non-bias iron condor that capitalizes on the expected volatility contraction. I accidentally placed this trade a day earlier than I intended, so we'll see if this makes a difference.

YELP Earnings Play

10/29/13

YELP earnings get reported today after market close.

LNKD Earnings Play

10/29/13

LNKD earnings come today right after market close, so we are looking to setup an earnings play.