URBN could go long up to resistance area highlithed. Buy at market open and TP from 47.72 to 48.50. Stochastic is supporting this idea and SCTR is high enough for a buy.
... for a 2.24 ($224)/contract credit. (High IVR/High IV; Post Earnings Volatility Contraction Play). Metrics: Max Profit: $224/contract Max Loss/Buying Power Effect: $177/contract Break Evens: 23.27/27.73 Theta: 6.12 Delta: -4.33 Notes: I'm looking to manage this at 25% max profit.
Unfortunately, there isn't much next week earnings wise that renders itself to quality premium selling, with nothing appearing in screens where I'm looking for underlyings that are not only liquid from an options standpoint, but also whose implied volatility is at least in the 70th percentile over the past six months and background implied volatility is greater...
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Breaking out of A BB squeeze... great gap and go. Newsome mentioned this could happen YESTERDAY but had no idea it actually would.
URBN expected to open at 42.00 for a Gap N Go. To learn to trade this strategy for free,go to www.RealLifeTrading.com
If URBN opens above 40.67 , Gap N Go. If it opens below 38.67 consider a retest gap. To learn to trade this strategy for free,go to www.RealLifeTrading.com