Jeff 9:56 am on Wednesday, July 31, 2019
Tags: Earnings ( 3,108 ), JadeLizard ( 130 )

SHOP trade

#Earnings Sold to Open $SHOP 275/300-330/332.5 Broken-Wing Condor for 4.50.
My version of #JadeLizard with disaster put. If SHOP goes higher, this will be at least a 2.00 profit.

fuzzballl 10:53 am on Wednesday, July 31, 2019

I like it. Bringing the protective put up a couple strikes but still a decent gain on a rip higher. Since it’s risk defined on the downside if the stock implodes then the lower the better as far as setting up a covered call position. If it breaks the 270 area with any airspeed then I’d just as soon see it go to 170. Sell the protective put Friday afternoon and take the stock. Thanks!

Sold SHOP AUG 2 2019 280.0/300.0/330.0/332.5 @ 4.10
- Jeff 10:55 am on Wednesday, July 31, 2019
  
  Its max down move would only get us to 289, so I like it.
  - fuzzballl 10:57 am on Wednesday, July 31, 2019
    
    I keep playing these for at least a little down move and rarely get it. There are some SCARY charts out there but we are still in Bizzaro market. Something like TWLO is just insane. 20 to 150 in 18 months. Someday things will get ugly…

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