NaughtyPines

GPRO -- HIGH IV RANK/HIGH IV/PREMIUM SELLING WORTH VIDEOTAPING

NASDAQ:GPRO   GOPRO INC
Well, it's probably not worth videotaping, but with earnings to be announced after hours tomorrow and IVR/IV both at 90+, it's worth selling premium in ... . If you feel the need to videotape that, well, then, go right ahead ... .

Due to the price of the underlying, I am going short strangle with this one:

Nov 6th 23/34 Short Strangle
POP%-age: 74%
Max Profit: $101/contract
BPE/Max Loss: Undefined
BE's: 21.99/35.01
Liquidity: 6-8 cents wide at given strikes (not ideal, but you're still likely to get a fill at or near the mid price for the setup).

Notes: I'm going out another week because the number of days to expiration is just too tight for me to manage with a day job. Additionally, given the way this thing's been absolutely hammered into the ground, I could understand going slightly (or even more than slightly) bullish with this one, in which case you could skew the setup to the upside.
NaughtyPines
a year ago
Filled a Nov 6th 23/34 short strangle for a 1.01 credit ... . AH is trading substantially off at 25.00 and change. I'll look to take this off at 50% max profit if I can.
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NaughtyPines
a year ago
Taken off for 50% max profit (a .51 debit).
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