Praise the LORD, WOW! $2084.00 from Straddle placed 2 days ago on SNOW. Rolled NIO for $132. more.
I had opened an option straddle on Monday for SNOW. I have never done a straddle before and really had no interest. Because of this channel I have been expanding to the unknown. I have seen youtubers explain it but I have not seen them put it into action. I don't like that. I want to see what happens when the trade is done. I paid $1873.00 on Monday to put this straddle together. My strike price was $150. That means if the stock price was at 150 on Friday Aug 25, I would lose my $1873. My break even was $131.27 on the low end and $168.73 on the high end. After yesterdays earnings, the stock jumped to a little over $190 so I knew I had profit coming. I sold this morning and received $3957. which after covering my $1873 paid left me a profit of $2084.00.
I then rolled a NIO Call and a NIO Put and received $132.00
If you are interested in a robinhood account: https://join.robinhood.com/davids-af9dc0e
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