BUY $52 Call 8/25
SELL $51 Call 8/25
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SELL $37 Put 8/25
Credit $1.79
'Jade Lizard' trade, which is a call credit spread plus a short put such that that credit from the short put more than covers the max loss from the call credit spread. Hence no risk to the upside. This does go through earnings but the 'allowable' moves are pretty chunky (+/-20%). I will try to open this on 7/17.
SELL $51 Call 8/25
----
SELL $37 Put 8/25
Credit $1.79
'Jade Lizard' trade, which is a call credit spread plus a short put such that that credit from the short put more than covers the max loss from the call credit spread. Hence no risk to the upside. This does go through earnings but the 'allowable' moves are pretty chunky (+/-20%). I will try to open this on 7/17.
Trade active:
Opened for $185 credit.