NaughtyPines

ANF OPTIONS EARNINGS PLAY

NYSE:ANF   ABERCROMBIE & FITCH CO
9 months ago
I found another possible play in addition to COST and that is in ANF             , which announces on Tuesday before market open.

The current implied volatility rank is 76, and its implied volatility is 97, so it would meet my general high implied volatility/high implied volatility rank standards for a premium selling play.

Given the price of the underlying, I would probably go short strangle (you won't get squat if you go iron condor on a sub-$30 underlying, usually):

March 11th 24/33
Probability of Profit: 74%
Max Profit: $105/contract
Buying Power Effect: Undefined

... but I'll probably look at tweaking this on Monday, depending upon what happens with price during the session.
9 months ago
Comment: Filled a March 11th 24.5/33.5 short strangle for a .98 credit.
9 months ago
Comment: It actually helps to be able to read a calendar. Lol. ANF announces earnings on 3/2 before market open, which is Wednesday. Thank goodness price isn't doing much here.
9 months ago
Comment: Out at 50% max profit at market open (.49 debit).
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