$RDDT STRANGLE 261023 PUT 130.0/CALL 175.0$ 1️⃣ Why am I making this trade now?
Short Strangle expiring 23rd Oct.
Short Call at $170
Short Put at $125
Credit collection $375 in 23 days.
Stock trading at $147 at setup.
Wide $52.5 profit range during the run up till earnings
High IV at 59% ensure decent premium collection for sellers.
Earnings on 29th Oct ensuring IV remain elevated.
RDDT expected move during this period is $23 within a standard deviation so the strikes were build based on these boundaries.
This allows for 68% chance of profit since I'm net seller for this setup.
The short call strike at $170 is above 200 days MA that should provide resistance.
The short put $125 is also near supper formed in Apr 2026.
2️⃣ What’s my plan from here?
Exit once 70% to 90% premium collected or;
Exit when less than 1 week remaining till expiry.
Take loss if price move away at losses kept at 1.5x of premium collected to keep losses contained. 
RDDT Strangle
09-30 22:37
US130.0/175.0
| Side | Price | Realized P&L |
|---|---|---|
| Credit Open | -3.75 | -- Holding |
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