NaughtyPines

GME -- EARNINGS AFTERGLOW PLAY

NYSE:GME   GAMESTOP CORP NEW
a year ago
Having announced earnings about two weeks ago, IVR/IV in GME             remains high (70/55).

The standard setup -- the short strangle:

Jan 22 27.5/38.5 short strangle
POP%: 71%
Max Profit: $113/contract
BPE: ~$333/contract
Break Evens: 26.37/39.63

Look to take it off at 50% max profit and move on ... .
a year ago
Comment: Rolling the call side down to the 34.5 strike (same expiry) for an additional .42 credit and to balance setup delta.
a year ago
Comment: Did not get filled on my roll. I will try again on Monday to roll the 38.5 short call down, this time to 33.5 (same expiry) for a .33 credit.
a year ago
Comment: Rolled the 38.5 down to 33.5 for an additional .33 credit to delta balance the setup.
a year ago
Comment: Covered this for a small $35 loss. (I actually intended to roll it out with 9 DTE to go and the short call nearing worthless ... .)
NaughtyPines
a year ago
Filled for 1.11.
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