NaughtyPines

COH EARNINGS SHORT STRANGLE

NYSE:COH   COACH INC
With COH             announcing earnings on 10/27 before market open, look to sell premium with a play before 10/26 New York             close to take advantage of post-earnings volatility contraction. With an IVR             of 98 and an IV of 48, look to sell premium via short strangle due to the price of the underling.

I'll look to put on a short strangle with a Oct             30th expiry with short strikes at or around the 1 SD             .

EXAMPLE:

Oct             30th 27 Short Put/33.5 Short Call Strangle
POP%: ~ 70%
Max Profit: $65/contract
BE's: 26.35/34.15

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