Tony Zhang’s Uber Earnings Trade: Selling Pricey Puts

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The Street

By Market Rebellion Tony Zhang from options action advises selling cash-secured puts on Uber’s earnings, but we think there might a better way. QUICK TAKES:Traders who want to take advantage of high implied volatility often lean on premium collection strategies to do it.Wall Street strategist Tony Zhang laid out a way to do that in Uber, which reports earnings Tuesday morning.Uber’s implied move is more than 2X the average earnings move of the stock over the last 8 quarters.Over the past two weeks, we’ve reviewed option trading strategies geared for arbitrating volatility through earnings. We …

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