NaughtyPines

FL -- POST-EARNINGS PREMIUM SELLING PLAY

NYSE:FL   FOOT LOCKER INC
Having just announced earnings , volatility in FL             remains high (IVR/IV 93/36), so I'm looking to put on a premium selling play. Unfortunately, FL             doesn't have weeklies, so I'm going to have to go farther out than usual to take advantage of decent strike prices that are sufficiently far out enough to allow the trade to breathe.

Here's the setup I'm look for a fill on:

FL             Jan 15 55/75 short strangle for 1.18 credit
POP%: 79%
Max Profit: $118
Buying Power Effect: ~$628
BE's: 53.82/76.18
Out today at 50% max profit ... . Not bad for 8 days work.
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Filled for a 1.05 credit.
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