The short 24 Aug weeklys expired worthless. Now holding the long put & call for free. Unfortunately the stock price is basically unchanged in the last few days, so these aren't worth much. Had the opening price of ~140 from Friday held, this would've been a nice trade.
8/23/12
Salesforce (CRM) is reporting earnings after the close today. I have no idea if it's going to be or not so I'm opening up my favorite direction-neutral trade.
Max profit is if the stock closes right at 160 or 130 tomorrow.
This ER happens to fall right in the sweet spot of this trade because the short options expire tomorrow, and the long options came on the board today.
Trade:
STO CRM 24 Aug(w) 130 put for $1.45 x 100 x 2 lots = $290 credit
BTO CRM 31 Aug(w) 125 put for $1.39 x 100 x 2 lots = $278 debit
STO CRM 24 Aug(w) 160 call for $2.02 x 100 x 2 lots = $404 credit
BTO CRM 31 Aug(w) 165 call for $1.78 x 100 x 2 lots = $356 credit
Net credit of $0.30 per lot = $60
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