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Friday, July 29, 2016

Expedia (EXPE) Earnings Play

Thu. 7/28/2016 (12:47:53 pm, PT)

sold -1 July 29, 2016  $110 put at $1.20

Why did I place this trade?
  • earnings announcement at 1 pm (PT)
  • "expected move" = up or down $8.82 (EXPE closed at $119.27 right before the earnings announcement)

Fri.  7/29/2016 (10:43:19 am, PT) (expiration)

bought back put at $0.02 to remove the risk

NET PROFIT:  $116.44 (in ONE DAY)

Success!