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New STX strangle trade

Trading strangles can be very profitable trade if done correctly. Trading strangles during company earnings can be even more profitable. But is can also be quite dangerous. I am posting a new trade for you all to watch, follow or paper trade.

For tomorrow morning I am placing a new trade – strangle against STX:

STO 1 STX May5 43.00 put
STO 1 STX May5 54.00 call
@ 1.43 credit limit day

STX reports earnings on April 26 before the market open. The earnings may shake the stock but I believe this trade has strikes far enough to survive any violent move. Even if the stock tanks or jumps, I hope be far enough that a potentially ITM strike of either a call or put will not be deep ITM so it will be easy to roll.

STX trend

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