I'm messing around today with my money, the SPY is trading sideways at $533.00. i bought an Aug 16 th strangle:
long $534 call @ $4.98. Long one $529 put @ $353. With this work out with the news this week? I will sell one leg on the breakout! $$$$$$$$
Sounds like fun, Mike!
Let us know how it goes. If the news is extreme, one leg should make you money.......hopefully more than what you paid for the other one, which won't be worth much if the market breaks the other way.
This seems like the type of market that could spike up or down on crazy news since the environment is pretty tumultuous right now.
I don't trade this but would guess they are a bit pricey for that same reason.
Thanks for sharing!
https://www.investopedia.com/terms/s/strangle.asp
so we will see how it unfolds ---Wish you make $$
hi mike so how it unfolds----~~$$$ hope made--!!