NaughtyPines

CRM -- EARNINGS SHORT STRANGLE

NYSE:CRM   SALESFORCE COM INC
CRM             announces earnings on Wednesday after market close, so look to put on a setup before NY close if you're going to play .... .

Here's the setup I'm going with (or something very near it, depending on prices move throughout the trading day):

Nov 27th 69/86 short strangle
POP%: 76%
Max Profit: $132/contract
Buying Power Effect: ~$775
BE's: 67.68/87.32

I'll look to take this off at 50% max profit after the announcement, assuming I get filled for 1.32. Check in later for my comments on how I dealt with the setup post-earnings. Setting up the trade in advance of earnings is the easy part; managing it after is where the work comes in, particularly if everything does not go as planned.
NaughtyPines
a year ago
Settled for a 1.09 fill.
Reply
NaughtyPines
a year ago
Covered today at 50% max.
Reply
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