PCLN has an earnings announcement coming between Feb 3rd and the 17th. This is going to drive up the IV on all the options
WFM is expected to have its earnings announcement between Jan 27th and Feb 10th. As we approach this announcement the IV will rise on the options expiring after the event.
We are using the IV differential that is created to build a volatility focused trade. This trade will use a set of long options that expire on Feb 10th to capture the increase in IV offset by a second set of short options that expire on Jan 27th to finance the trade and reduce the effect of Theta erosion on our overall position.
We nailed our profit target on the GOOGL
IV on NKE dropped over the last week for some unknown reason. This ended up hurting our trade. We closed with a small loss.