With an IVR of 91 and an IV of 71, WFM's premium is sufficiently "wholesome" (see what I did there?) for a premium selling earnings play. The max profit isn't huge, but the little ones do add up ... .
Due the price of the underlying, I will be going short strangle:
Nov 20th 26.5/36 Short Strangle
POP%: 75%
Max Profit: $72/contract
BPE: Undefined Risk
BE's: 25.78/36.72
Notes: With this particular play, I'm going out to the monthly, where the liquidity seems to be a little better than the weeklies. Looking to take it off at 50% max if I get filled.
Due the price of the underlying, I will be going short strangle:
Nov 20th 26.5/36 Short Strangle
POP%: 75%
Max Profit: $72/contract
BPE: Undefined Risk
BE's: 25.78/36.72
Notes: With this particular play, I'm going out to the monthly, where the liquidity seems to be a little better than the weeklies. Looking to take it off at 50% max if I get filled.