For the last few episodes, we were reviewing skip-strike butterflies in GOOGL. You can find this on page 87 of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.

In this episode:

• A review of the last few weeks of strategies in GOOGL
• Looking at IBM, which will announce earnings on July 18
• Remember: earnings add a bit of volatility to the underlying
• Where is the IV?
• Having a neutral to bullish outlook
• Going out further in time. Why?
• Time is on your side
• Picking the expiration
• Picking the strikes
• What will this cost?
• What is the maximum risk? Reward?

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