#Earnings This is one of the most difficult earnings trades to nail… More often it shoots much higher, but then it has been known to reverse sharply and gobble up longs. Premium is thus quite elevated… selling a strangle over 20% OTM on both sides…. Stock is currently pretty extended to upside and the put side is comfortably down near the 200 ema.

Sold $RH June 15th 90/146 strangles for 1.75 (calls are highest available strike)

Biggest UP move: 49.4%, Biggest DOWN move: -28.6%, Average move: 14.6%. My strikes are +24.5% and -23.3% OTM