Summer 2022 ER Season Kicks Off for Green Goose Trader
Update and additional play for this week
Good morning from Normandie, France!
I looked in on the JPM pre-ER play yesterday after a full day of touring and was happy to see it moving up along with a nice rise in IV. Unfortunately, it gave back much of the gains. Let’s see where this goes on Wednesday. No matter what, the IV will continue to rise. If we get a move up towards the end of the day, I’ll take the gain and redeploy it towards an Earnings Iron Condor EOD if the profit offsets the risk. If not, I will not play as JPM only has a 50% win/loss ratio for the past 4 Earnings Iron Condors.
MS reports on Thursday morning. The win/loss ratio playing an Earnings Iron Condor for the past 4 ER’s is 100%. I will therefore be entering near close on Wednesday with a max position size of 2.5% of my account ($250 for the Green Goose Trader TraderSync account).
Lastly, there is one additional Earnings Iron Condor opportunity this week. Although the $ risk may be a bit high for smaller account sizes. UNH reports before market open on Friday, July 15th. Past performance for the last 4 ER’s is decent at 75% win/loss ratio. Entry timing is EOD on Thursday.
As always, do your own due diligence. Personally, I have either played or fully backtested the alerts noted here using TomsOptionTools (link provided below) for historical integrity. I only recommend tools for which I find value and that I use.