Riskarb's combo to fly conversion journal

Quote from mantenar:

I am not able to find any good stocks this earning season to put combo to fly conversion trades. Have you found any good trades.
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This Tuesday FED's announcement about possible last rise in interest rate made the earnings kind of irrelevant. Bob Pisany was screaming like crazy that it's all about FED now , hence , no rise in Vols as usual. Look at AAPL ; last qtr vols went to 50 even AFTER they already announced earnings two days earlier. This time vols were steady at 42 .
However , many stocks moved after reporting today and I already can see some spike in vols for next week reports.
Same happened last April
 
SLAB? 56.36

IV mean = 68% 52-week high

Earnings: 4/24

Haven't really researched the underlying, has good earnings last two quarters, involved in trade secret litigation. Just thought I'd throw it out there to see if it's a good candidate for a straddle to fly conversion??

I was attracted to this position due to the 52-week high of IV and the huge IV drop off on past spikes.
 
Quote from knocks420:

SLAB? 56.36

IV mean = 68% 52-week high

Earnings: 4/24

Haven't really researched the underlying, has good earnings last two quarters, involved in trade secret litigation. Just thought I'd throw it out there to see if it's a good candidate for a straddle to fly conversion??

I was attracted to this position due to the 52-week high of IV and the huge IV drop off on past spikes.
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I entered a position on Friday before the close:

S May 55 Strangle @ 9.40

Today was earnings, SLAB down $5.20
however IV dropped to 57%

B May 60C/50P @ 2.40

Total Credit = $7
Min Gain = $2
 
Is anyone playing ISRG . Earrning on 4/27. IV is at 69%. I am expecting IV to drop to 40%. History indicates that the stock moves up a little after earnings report.

Straddle 105 call/put - 16.00
 
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