NaughtyPines

EARNINGS: SOLD YELP SEPT 16TH 26/38 STRANGLE

NYSE:YELP   YELP INC
... for a 1.15 ($115)/contract credit.

Ordinarily, I look to set these up in expiries closer in time, but I'm going out to the monthly to collect additional credit, give myself more time/room to be right ... .

Will shoot to take this off at 50% max profit (~.57 ($57)/contract debit).
Comment: A ripper in AH post-earnings, up to 36 and change ... .
Comment: Oh, ripppppage ... . Lol. Rolled the 26 short put up to the 32 for an additional .45 credit.
Comment: Hard not to get impatient and concerned here with price breaking the 38 call. Me personally, going to wait for the short put to approach worthless before considering rolling the short call up and out, since there's oodles of time until expiration.
Comment: Rolled the 32 up to the 35 for an additional .37 ($37)/contract credit.
Trade closed manually: Bought to cover this today for a 1.63 db, netting $25/contract in profit. The call side was tested from the git-go, and it's best to take a small winner here on this dip than wait for it to develop into a long-term loser.
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