Option Strategies: MSTR& SNOW
Hello everyone! Today i want to share some option strategies with you!
1.
Assuming that $Snowflake(SNOW)$ holds up in the 180s area to close this week, these puts should expire worthless for max profit.
Will be looking to write the Feb 14 expiry $175 strike puts for next week. Gamma stack is strongest at the 200 call strike (with 190 being the next largest stack), so we are betting those stacks act as a magnet to hold the stock price above 175.
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2.
Snuck in these optionselling trades on $Strategy(MSTR)$ right before the closing bell today. Played earnings.
Sold a strangle. Feb 7 expiry $670 call strike & Feb 14 expiry $200 put strike.
Not much of an earnings move in after-hours. Feb 7 expiry options weren't priced juicy. Looks like big players weren't sure how to take the news of the company changing its name and business strategy, hence why the deflated options pricing heading into earnings. Somebody always knows.
Expected IV to be in the 300-400% range for 10-20% move +/- from closing price for Feb. 7 options, but it was no where close to that. Had to go out to the Feb. 14 expiry to get any decent premium. Feb 14 options should get decent IV crush tomorrow. Will be looking to close out this trade for profit.
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