NaughtyPines

TRADE IDEA: GILD AUG 19TH 79/94 SHORT STRANGLE

NASDAQ:GILD   GILEAD SCIENCES INC
GILD announces earnings on Monday after market close, so look to put this on sometime before the final bell.

Metrics:

Probability of Profit: 74%
Max Profit: $123/contract
Max Loss/Buying Power Effect: Undefined
Break Evens: 77.77/95.23

Notes: This is being done in the off hours, so I'm not getting accurate buying power effect metrics for this setup, and it's likely that the strikes will have to be tweaked slightly and/or the fill price adjusted during open market hours ... . Unsure if I'm going to do this trade myself, as I have some "housekeeping" to do on existing setups, and want to see first what buying power i've got left after I do that ... .

Comment: Kinda sorta glad I didn't do this one ... . Lol.
GILD is down to $81 so you would have survived but selling strangles into events is asking for it
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Always a total crap shoot, particularly with biopharma. As luck would have it, it hasn't held 79 ... . So even "gladder," now. Lol.
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