TBO Newsletter Exp 14AUG SMH MS UNH - Details

TBO Time Bandit Idea for Expiration of 14AUG, 2026 In SMH consider selling the August 14, 2026 Expiration (14AUGL26) Expiration 505-635 Iron Condor for about $2.05 mid price with stock around $571 Consider SMH sell 14AUG 505-635 IC SMH Buy 495 Put Sell 505 Put Sell 635 Call Buy 645 Call Minimum $1.90 with mid around $2.05 Technicals: Straddle is $44.7(IV Move on TOS is $47.43 ) and strikes are $66 to the downside and $64 to the upside. The Average True Range is $27.6 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 $2.05 so our risk is $7.95 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 $2.05 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: $618.17 (7/9 H)  with the stock moving higher Downside early morph levels that can be considered : $524.77 (8/3 Low) with the stock moving lower     8/4 SCS IDEAS for expiration 8/14, 2026 Idea #1: BEARISH– Selling CALL Vertical UNH $410 Consider selling the UNH 14AUG 430-440 CALL spread for roughly $1.10(min $0.90) with stock BELOW $411 (current $410) Consider UNH 14AUG 430-440 CS Risk: $10 vertical spread less premium collected of spread of $1.10 = $8.90 of risk Max reward is $1.10 ATR: $11.56 Straddle: $16.45 Morph levels: Stock ABOVE $427.34 (7/30 High) consider making an adjustment with market that is moving HIGHER!   Ideas #2 BULLISH– Selling PUT Vertical MS $218 Consider selling the MS 14AUG 207.5-197.5 PUT spread for roughly $1.00(min $0.90) with stock ABOVE $217 (current $218) Consider MS 14AUG 207.5-197.5 PS Risk: $10 vertical spread less premium collected of spread of $1.00 = $9.00 of risk Max reward is $1.00 ATR: $6.79 Straddle: $11.3 Morph levels: Stock BELOW $202.94(7/29 Low) consider making an adjustment with market that is moving LOWER!