SPY took a 30 handle dip this morning then turned right back around to its initial levels. On this uncertain day, Errol looks for neutral opportunities.
He puts iron condors on in both ZM and RBLX. His RBLX IC is an earnings play (earnings to be released in 4 days). Tom says the only thing we know with an earnings trade is that volatility will be killed immediately after the earnings are released. There’s not a lot of juice in them otherwise--BUT you get some nice instant gratification when you’re right, and they’re a way to familiarize yourself with a variety of different stocks.
Bonus Lesson: Maybe wait on trading Robinhood for the time being. Tom cautions that there’s nothing to base IV on. We have no historical context for the stock yet!
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