Option Strategies: ADBE& ORCL

Selling For Premium
03-10

Not a lot of tickers that interest us for #Optionselling earnings trades this week. Two that we are 👀:

$Oracle(ORCL)$

- Earnings Date: Monday, March 10 after market close

- Expected Move: ~9%

- Trade: Strangle, put write at 120 strike and call write at 200 strike, March 14 expiry (or could go more aggressive and write a put strike in the 135-140 range, accepting assignment risk)

- Volume point-of-control at 127

- Strong volume support stacks at 140-143 & 125-128

- Expected downside move at 140 would fill the small gap sitting at 143

- Recent high near 198 and expected upside move placed at 169

$Adobe(ADBE)$

- Earnings Date: Wednesday, March 12 after market close

- Expected Move: ~8% (subject to change leading up to earnings date)

- Trade: Put write, strike in the 375-400 range, March 14 expiry / could also strangle and write the 525 call strike since there is strong volume resistance at that level

- Expected move places downside at 415 and upside at 484 (subject to change leading up to earnings)

- Volume point-of-control and strong resistance at 525

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