Since we are still in the middle of earnings season, it makes sense to continue with stocks that are about to release earnings, in this case Tesla, which announces earnings after the recording of this show. You can find skip strike butterflies on page 108 of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.

In this episode, Brian covers:

• A review of last time
• Where did the AMZN skip strike butterfly end up?
• Where is TSLA?
• What is the outlook?
• What is the expected move?
• Setting up the trade: selecting strikes
• What's the maximum risk? Reward?
• What do you want to happen?

Do you have a question that you want answered on a future episode? Send them to Brian at [email protected], or to the Options Insider at [email protected].