Dest's Everything Journal

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destriero said:
I missed getting it done at the close, but should be doable tomorrow at the open. Don't pay more than $2. UBER MAY31 132C in the 36/41/44 which went off today at 1.75 mid. It's got the potential for a (near) double from here.
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I’m taking this trade.

Uber’s volatility for May 31 expiration shows 108.1% according to IB. You have set the legs basically at UBER’s high and low since their IPO.

Outstanding trade idea regardless of the ultimate outcome.

Thanks.

Edit: According to IB, bid/ask closed at 2.25 x 2.65, so there may be some work involved getting filled.
 
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I was on the road and didn't trust the 1.75 mid. I didn't get a chance to look at the individuals (1.75 seemed too cheap when eyeballing).
 
destriero said:
I was on the road and didn't trust the 1.75 mid. I didn't get a chance to look at the individuals (1.75 seemed too cheap when eyeballing).
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It looks like going with the ITM leg at 37 with its .852 delta reduces the breakeven range by .20 on each side to 38.70 and 43.30, assuming a fill at 1 tick worse than the mid. Closing mid was 1.65. That 108% IV gives some room to play, IMHO.
 
maximumpossiblesuffering said:
I’m taking this trade.

Uber’s volatility for May 31 expiration shows 108.1% according to IB. You have set the legs basically at UBER’s high and low since their IPO.

Outstanding trade idea regardless of the ultimate outcome.

Thanks.

Edit: According to IB, bid/ask closed at 2.25 x 2.65, so there may be some work involved getting filled.
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Have VZ or your GF put the trade on for you, no offense but order execution isn’t one of your strong suits.
 
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