GOOG Oct strangle on the 18th, close the 19th.

I will be buying a GOOG Oct strangle 3 strikes OTM on October 18, 3:00 EST - day of earnings - and close Friday the 19th.

 

Good luck. I hope it goes better than your SBUX experiment/trade.

 

Good luck beating the IV crash...not saying it can't happen though.

 

Unless you've developed a true edge in this type of trade, this is pure gambling at its best. The IV collapse is something to behold ....

 

Selling the October strangle 3 strikes out would be more risky than buying them.

 

What we call in the volatility biz Buy High/Sell Low....

 

So what is the right way to play this...

 

So far I have:

forex-forex = buy this position
volatilitypimp = neutral
verbotenlaandia = neutral
damnit = sell this position
RL8093 = sell this position (maybe neutral)
optioncoach = sell this position

 

IV_Trader= swap this position ( rc)

 

xflat2186 ...Dont trade GOOG earnings unless you're well capitalized and have a plan that includes the use of trading the underlying whether to rehedge your negative gamma from selling the juice or trying to lock in some profits from being long the juice.

Good luck