WORKING: AMD MAY 17TH 22/32 SHORT STRANGLE

... for a 1.13/contract credit.

Metrics:

Max Loss/Buying Power Effect: Undefined/$270/contract
Max Profit: $113
Break Evens: 20.87/33.13
Delta: -4.36
Theta: 3.28

Notes: Earnings in 22, so not looking to stay in this trade for long. High implied at 66 with excellent options liquidity ... .

Trade active:

Tweaked the setup slightly to the May 17th 22/31; filled for 1.27/contract.

Trade active:

Rolled the 22 short put to the 24 strike for a .32/contract credit; scratch at 1.59 with break evens now at 22.41/32.59.

Trade active:

Rolled the 24 short put to the 25 strike for a .25/contract credit, cutting net delta in half; scratch at 1.84. Earnings in 8 ... .

Trade closed manually:

An opportunity to close here pre-earnings for a small winner: closing for 1.55 debit/contract ($29 profit/contract).