COF gapped a bit up in the morning then quickly dropped back down to the $84.50 target. When ToS re-entered the limit order in the morning it got an immediate price improvement to $1.69. This netted us a great win of $3960 on this overnight trade.
Note - I recorded the market open as this trade closed. You can see it along with my commentary in the video below.
This worked out great. NKE gapped up a bit more than expected but the IV stayed strong and we walked with a nice overall profit.
At the open, we had a great profit on the trade and our exit order got filled at a better than expected price. I sent the alert out saying the profit target order got filled at $1.06 but the fill was actually better due to the market conditions.
ATVI has a high IV on its Friday expiration options as it comes into its earnings announcement tonight. We are using this as an opportunity
Our Profit Target order got filled at the open for a $1600 profit. We might have even gotten a bit more if we had gone for it, but I wanted a solid fill. Soon after the open NFLX dropped down to the $144 area where it is sitting now.
NFLX has an earnings announcement on Monday after the market closes. We are setting up this trade to use the high IV of the APR21 options to get a large credit that we are protecting with the lower IV MAY12 options. This allows us to create a profit on the trade as the short term IV collapses after the earnings announcement.