Roku Inc (ROKU)

[moe_the_gyp01]

I am playing a short Iron Condor 11/8 Exp. Implied Volatility right now is at 68% making premium juicy ahead of earnings. Given that a strangle @ 141.00 on the ask is almost 20.00, I set my wingspread at 40.00 with short strikes at 120 and 160.00. The bet being that Implied volatility will collapse after earnings which is hardly a bet but the bet part is that post earnings, ROKU will stay range bound between 120.00 and 160.00. Should be able to win both legs of the condor and if not, win one, adjust the other out in time, up or down in value depending on which leg of the condor the price violates. Did the same trade with apple and kept both sides of the net credit bet.

Action Quantity Description Price Price Type Duration Status Order Actions
Buy Open 10 ROKU Nov 08 '19 $113 Put $2.20 Net Credit Good for Day Saved Enter
Sell Open 10 ROKU Nov 08 '19 $120 Put
Sell Open 10 ROKU Nov 08 '19 $160 Call
Buy Open 10 ROKU Nov 08 '19 $165 Call

That's how Moe rolls.