TBO - META Update 7-17

7-17

If anyone is still involved in META and did not close the call spread when the stock moved lower today please be on guard here with us close to the short strike and ~2 hours until expiration.

 

In META consider selling the JULY 17, 2026 Expiration (17JUL26) Expiration 565-650 Iron Condor for about $2.10 mid price with stock around $605

Consider META sell 17Jul 565-650 IC

META

Buy 555 Put
Sell 565 Put
Sell 650 Call
Buy 650 Call

Minimum $1.90 with mid around $2.10

Technicals: Straddle is $31.45(IV Move on TOS is $32.63 ) and strikes are $40 to the downside and $45 to the upside. The Average True Range is $21.98

Risk: The total risk of the trade is defined by the distance between your long and short strike of your spread ($10) minus the amount of money that you sold the Iron Condor for.  For this spread we are getting around $2.1 so our risk is $7.90

Reward: Our reward will be maxed out if the stock stays between our two short strikes and will be equal to the amount you sold the condor for.  Maximum reward would be $2.10

Adjustments: Our upside morph will be executed only when the stock has broken up above our upside resistance line and commences a technical breakout. Our downside morph will be executed only when the stock has broken down below our downside support line and commences a technical breakdown.

***Trade Management: For those wanting to reduce their risk sooner, these levels can be used as breakouts for an early morph:

Upside early morph levels that can be considered: $644.76(200 SMA)  with the stock moving higher

Downside early morph levels that can be considered : $575.91(20 SMA) with the stock moving lower

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7-14

AMD is rallying here. Consider using HOD (573.85) to morph! DDA!

 

BEARISH– Selling CALL Vertical

AMD $512

Consider selling the AMD 17JUL 590-600 CALL spread for roughly $1.05(min $0.90) with stock BELOW $514 (current $512)

Consider AMD 17JUL 590-6005 CS

Risk: $10 vertical spread less premium collected of spread of $1.05 = $8.95 of risk

Max reward is $1.05

ATR: $38.05

Straddle: $55.25

Morph levels: Stock ABOVE $572.5 (7/6 High) consider making an adjustment with market that is moving HIGHER!

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7-9

VRT is running here and has traded above our UEM and pulled back. On a move through HOD(338.88), consider morphing!

META is selling off with the gap down. Consider taking off the call spread and being ready on the downside break.

 

 

In META consider selling the JULY 17, 2026 Expiration (17JUL26) Expiration 565-650 Iron Condor for about $2.10 mid price with stock around $605

Consider META sell 17Jul 565-650 IC

META

Buy 555 Put
Sell 565 Put
Sell 650 Call
Buy 650 Call

Minimum $1.90 with mid around $2.10

Technicals: Straddle is $31.45(IV Move on TOS is $32.63 ) and strikes are $40 to the downside and $45 to the upside. The Average True Range is $21.98

Risk: The total risk of the trade is defined by the distance between your long and short strike of your spread ($10) minus the amount of money that you sold the Iron Condor for.  For this spread we are getting around $2.1 so our risk is $7.90

Reward: Our reward will be maxed out if the stock stays between our two short strikes and will be equal to the amount you sold the condor for.  Maximum reward would be $2.10

Adjustments: Our upside morph will be executed only when the stock has broken up above our upside resistance line and commences a technical breakout. Our downside morph will be executed only when the stock has broken down below our downside support line and commences a technical breakdown.

***Trade Management: For those wanting to reduce their risk sooner, these levels can be used as breakouts for an early morph:

Upside early morph levels that can be considered: $644.76(200 SMA)  with the stock moving higher

Downside early morph levels that can be considered : $575.91(20 SMA) with the stock moving lower

 

Ideas #2

BEARISH– Selling CALL Vertical

VRT $295

Consider selling the VRT 17JUL 342.5 - 352.5 CALL spread for roughly $1.20(min $0.90) with stock BELOW $297 (current $295)

Consider VRT 17JUL 342.5-352.5 CS

Risk: $10 vertical spread less premium collected of spread of $1.20 = $8.80 of risk

Max reward is $1.20

ATR: $22.83

Straddle: $33.55

Morph levels: Stock ABOVE $337.23(6/30 High) consider making an adjustment with market that is moving HIGHER!