저자: TonyBattista · 외국인
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NVDA 실적 발표 후 4시그마 급등과 높은 IV를 근거로 7월 만기 30폭 아이언 콘도르(콜 480/510, 풋 320/290) 전략을 제시. 방향 예측보다는 옵션 프리미엄 수취 전략 설명이며 시장 대비 중립·약한 하락 편향을 언급. 제품 홍보 및 계좌 개설 권유 포함.
다듬은 글
welcome to option trades today I'm Tony the bad Batiste that I've got a trade for you today with a stock that's on everybody's lips in video but before we do that let's take a quick look at the market May 25th 2023. let's check it out even the S PS are up 26.50 and you'll notice when I take this little side here and slide it out uh it adds another column here I'm talking about this column right here with the percentage change I like to look at the percentage change uh just so I can quickly see what's going on with the product most products that have a one or two percent move are having a large volume day a large move day or a move outside their expected move and one of those is the NASDAQ which continues to buoy the market NASDAQ up 312 you can see it it's just off of its highs and one of those stocks that has a relatively High IV rank post earnings right Nvidia came out with earnings uh this morning with a four standard deviation move to the upside look at the stock closing yesterday around 300 305 opening today uh significantly higher opening at 385 dollars it's sitting right here just off its highs of 390 dollars Nvidia decent IV rank post earnings not great IV rank of 25 um but you know what in this market 25 Ivy rank is actually pretty good remember it's post earnings that means the stock has already had earnings you could see the IV protect percentile is low at 18 and the ivx 5-day change said it's up one percent so really volatility has not come down in Nvidia because the stock is going uh higher I told you on the last podcast we had these stocks that are High Flyers have the perceived risk to the upside although I think in video is getting a little bit frothy here you might be surprised at the trade I'm going to take a look at here for July remember we're looking at 45 days here you would think with a big move like this I might do a 1x2 ratio spread but on a 400 stock that's going to just use too much buying power to have an undefined risk uh trade you might have thought I might have gone with a call broken wing butterfly why would I do a call side because I'm omnidirectional slightly bearish I'm playing the contrarian role I want the stock to go lower I don't want to have any risk to the downside but you know what I'm going to put my feelings aside and I'm just going to play the numbers here I think I found something that's pretty interesting I'm going with an iron Condor I'm going with a wide iron Condor I'm going to go with a 30 wide iron Condor now why do you say 30 white iron Condor we've done research uh the higher price stock The Wider you have to go like a hundred dollar stock maybe ten dollars why 200 stock 20 dollars right 30 uh dollars wide for a three or four hundred dollar stock you don't want to get too much wider than thirty dollars and I'll explain to you why let's take a look at what's going on here look at where I'm able to go on the call side I'm all able to go all the way up to around the 15 Delta I'm just going to use the easy ones of the 480s and by easy ones I just mean the round number instead of the Nickels 485.
it's approximately 15 Delta I have open interest up here look open interest on a 480 calls is four as 589 contracts and look there's no open interest on any of these other options you want to know why because they didn't exist before today check this out this is as high as it's ever been for the options Series so I'm gonna that's not significant why I'm selling it but I just wanted to show you how open interest are the options that are not closed yet and the options can't be closed in these products because it it hasn't had a 24-hour period it hasn't had a day yet you could look at volume let's look at the difference between open interest and volume volume you'll notice there's so much lighter in all of these strikes well why is it so much lighter well it's so much lighter because they didn't exist before that's all so I'm going to sell the 480 calls and I'm going to buy the 510s they didn't exist before today that's my wide 30 wide call spread you can see the credit of two dollars and I'll just round and say 50 cents and you're buying power is about twenty seven hundred dollars uh twenty seven hundred dollars 27.50 on your buying power two thousand seven hundred fifty dollars with almost an 88 uh probability of success a short Delta play now I don't want to just be short Delta in Nvidia I want to be kind of delta neutral so I'm going to go all the way down to the 320 put the 320 put has approximately a 15 Delta I did when I put on this trade a couple of dollars ago and I'm selling the 320 put and I'm buying the 290 put so that's thirty dollars wide equal distance my buying power goes down from around 2700 to around around 2400 because look at the mid price 5.75 or five dollars and eighty cents now I got filled at five dollars and sixty three cents look at the natural bid here five dollars and thirty cents look at the natural offer six dollars and twenty cents markets are a little bit wide as you would expect with a stock that's moved 85 or 90 dollars today here you'll see the mid price keeps going back down to uh 570 575.
I'll tell you with the stock right around here I was shading this at around five dollars and sixty three cents a matter of fact you can check that out yourself by going to the follow page I usually always post these trades before I get on to um uh this podcast so you can get it in real time when I did I put this trade on when the stock was 384 dollars the stock has rallied to a new highs of 392.
I got filled at 5.63 I'm glad I just didn't go short the stock I got filled at uh 10 10 in the morning it's a post earnings wide IC by wide IC I mean 30 dollar uh wide I see collecting around 20 um we like to collect around one-third the width of the strikes you're really collecting around 20 of the width of the strikes but your pop is much higher at just about 75 percent on this trade um why they pick these strikes purely for the one standard deviation of being well outside that standard deviation that's right down here on the on the put side and on the call side you're looking at up here so you really have less risk to the upside because you're further away taking advantage of that volatility SKU and maybe you can get filled at a better price than me beat the market maker is what we should call this all right everybody I hope you are liking our podcast I hope you like And subscribe to our podcast too but equally as important please do us a favor open up an account at tastytrade take advantage of all the perks they have there anywhere between a couple hundred dollars to up to three thousand dollars depending on the side of your size of your account that you're bringing to tastytrade read all the fine print and take advantage of all of those offers foreign
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