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Curious if this is a thing? Combing both strategies for earning's?
TTD for example has an earning's implied move of around 13%, the price is at $84. I can buy a long Strangle at $95 call and $75 put (8/16), then can open Iron Condor buying/selling $60/70 and $103/$109 (8/9).
If the price stays within the range of the long Strangle ($75/$95), the Iron Condor will fully profit and offset costs/losses of the Strangle. If the price runs, the Strangle will become ITM before price breaches the strikes of the Iron Condor gaining semi capped profit.
Should be able to profit if price stays flat or runs if opened right before earning's? It's a lot less of a gain but hedge against risk am thinking is a pretty risk averse structure? Has anyone tried this?
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