what was the GAP trade? Yea this ZS low pretty striking. I think the lowest implied move print was 8% as you mention. Marks are coming back now. Was down quite a bit this morning.
GAP- went long 27.5 straddle at 12.4% Implied, closed at 12.7% + scalping profits. Made 40 cents per straddle; not bad for low nominal stock. I know folks here don't like the "risk free trade" phrase, but in hindsight it ended up being one.
ZS implied move is low but has been consistently low for last two weeks. I just looked and my code picked up the max allocation for ZS but even if we are lucky the implied move might touch mid 7s. It's a similar story with NVDA, the move has been ranging between 6-7% for past week+. I'm skeptical it breaks 7%. Market rejected 6.8% this AM and much of the spike looks like beta. Earnings vol has been a very tough trade recently.
I try to use both momentum and absolute levels. I was referring to the straddle price pre-earnings remaining sub 7% in case that wasn't clear. By your risk figs I assumed that was your main trade.
I sometimes hold the low absolute figures through like UNH. I’ll be carrying 250k theta in ZS tomorrow if we don’t bid.
I cannot figure out CRWD. Reporting (apparently) this week but still no confirmation. IF stock's report date is this week, then 6/6 vs. 6/20 ratio is not normal, imo. Back is 50% more! So... maybe a chance that stock will NOT report this week?
No, they def report tomorrow: https://ir.crowdstrike.com/events/e...al-first-quarter-2026-results-conference-call
Thanks B; I thought I checked it out...missed it somehow Now short calendar looks good, imo- Long 6/6, short 6/13. Need 5% up or down report move. I will check the credit tom
would it be better to just be long the 6/6? I haven’t looked at it but short calendars are capped in their pnl so the spread as to be ludicrous (unless you are trading for implieds)