Two Long Strangle ideas for earnings tonight after the bell. If you think AAPL/GOOGL will move 5% in either direction on earnings after the bell. This expires tomorrow at the close so its a one move and out.
AAPL
Buy the 142 put expiring tomorrow for 63 cents
Buy the 157.5 call expiring tomorrow for 72 cents
Looks for a 5% move in either direction. Total cost is $135 per contract
GOOGL
Buy the 101 put expiring tomorrow for 89 cents
Buy the 112 call expiring tomorrow for $1.50
Looks for a 5% move in either direction. Total cost is $239 per contract