12:43:25 May11 short 92 - 84 WMT straddle for 1.50 credit
No catalysts (earnings May 17)
Uncertainty about competition w/ Amazon is stifling trading volume
No sign of strong recovery after earnings miss paired w/ selloff
Wide strike spread leaves 5% margin of error
After today's pop, call premiums are rich and MA support levels imply a high probability of 257 puts expiring OTM. Given the short dated contracts, the theta decay will be accelerated and premium can be collected while the market sorts out trade war turbulence.
