ausstone

Yes, that's correct.

I closed GMCR @ 5.91

Sure, I'll update you on the positions when I close them.

So how has OptionsHouse gone this long and not been sued - if you are right? See the attached screenshot.

I entered yesterday, and I exit the day after earnings. I don't need +20% or -30% to break even - only if I held until expiration. The screenshot shows that. TSLA I used 237.5/300.

Well I don't ever think it's going to be a 30% move - that was just luck. I setup the trade looking for $200-$500 in profit with not much risk. My TSLA strangle was 3.19 and hopefully will be worth 4.20 in the morning - that's the kinda moves I'm looking for. Yes, I saw your daily tip which is why I wrote here, and yes a small allocation - I consider out of the money puts and calls more of gambling. But not a strangle.

I just wanted to write about a strategies that I've been playing throughout the year. I'm interested to see what Kim and others say. I opened a GMCR strangle yesterday (I always open the day before the earnings). I bought 10 August 07 60 puts I bought 10 August 07 97 calls The strangle cost 0.25 with a maximum loss of $250. I only trade this strategy on stocks that have a high predicted move after earnings. GMCR is now at $53.70 (6:39PM). ~$6500 in profit depending on what happens at the open. So why shouldn't I continue to make these trades? I lose more often when I just purchase calls and puts, but the strangle usually does me good.