Expected movement for the option expiring on May 23 is around +/- $20, and the stock price has increased quite a bit in the past a few weeks. Hence, setting up a short strangle with strike price out of the scope of expected movement when the stock price was around $180. Hoping that "good news" if any to be released during earning call is (partially) priced-in so that stock price won't go crazy above $205.
Max profit: $320 for 2 contracts in each direction if all contracts expire worthless
Exit strategy: if stock price moves aggressively toward one direction, consider buying back one contract of that direction to reduce risk exposure.
Instrument | Entry Date
SNOW 23MAY25 207.5P | 2025-05-19
SNOW 23MAY25 155P | 2025-05-19
Max profit: $320 for 2 contracts in each direction if all contracts expire worthless
Exit strategy: if stock price moves aggressively toward one direction, consider buying back one contract of that direction to reduce risk exposure.
Instrument | Entry Date
SNOW 23MAY25 207.5P | 2025-05-19
SNOW 23MAY25 155P | 2025-05-19
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.