Weekly option strategies discussion - Week of July 3rd, 2023
Discuss your plays for the upcoming week or closed positions from the prior week. A good strategy post should include several of the following elements:
the underlying ticker
any upcoming catalyst
the specific strikes and expirations in your position
More of the same tomorrow, July 5th, with CVNA put ratio spreads. Hopefully be able to close out a few rolled short puts from last week.
Considering a ZEBRA on MVIS with an 8/18 expiration. BTO 2X 3.50C and STO 1X 4.50C costs 182 for net 100 delta. The equivalent shares would be 449, so that's 247% leverage over the next 45 days. The trade plan would be 10 positions with a stop loss when MVIS hits 4.29 to limit losses to 0.5% of portfolio value. Close early for a 100% gain if MVIS hits 6.31, otherwise let it ride.