Option Strategies: DLTR, MU, DOCU, OKLO& LULU
Hello everyone! Today i want to share some option strategies with you!
1.
$Lululemon Athletica(LULU)$ announces earnings this week on Tuesday after the closing bell. Expected move is 12-13%.
Price action is currently trading at a very strong volume support level. There isn't much support below until the 60-70 range.
Not really sure what optionselling trade to take here. Am looking at the 110-120 area for a put-write trade, March 20 expiration.
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2.
$Oklo Inc.(OKLO)$ announces earnings after the closing bell on Tuesday. We'll probs write a bunch of cash-secured puts at $35 strike for March 20 expiration (assuming there is premium available on Tuesday at that strike).
35 is the lowest we can currently go on the options chain for March 20 expiry.
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3.
$Docusign(DOCU)$ announces earnings on Tuesday this upcoming week. Expected move is 11.4%.
DOCU is a dead stock. That said, am looking to write puts at the March 20 expiration and strike in the 35-37.5 range (at the absolute overall multi-year bottom).
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4.
$Micron Technology(MU)$ is the highlight of this upcoming week's earnings releases.
We're taking the following optionselling credit trades ... a modified strangle of sorts.
- STO March 20 expiry covered calls at $500 strike (or higher)
- STO April 17 expiry cash-secured puts at $250 strike
Expected move is in the 11-13% range. Current price action is hitting overhead volume resistance, but there is no resistance above if it breaks through for earnings. Not much volume support below until its gets down to that 250 area.
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5.
$Dollar Tree(DLTR)$ announces earnings before the opening bell on Monday March 16. Expected move is 9.5%.
Am looking at an optionselling strangle, March 20 expiration.
- Put-write targeting the 85 strike (which is the previous bottom before the prior earnings release)
- Call-write at the 143 strike (which is a previous high)
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