MU price surged before earning with a lot of volumes. Now it has a higher probability to pull back. Plus good news before the earning is priced in. Option buyers taking MU bet off the table due to the loss of IV.
I like to make this trade by selling calls or sell stocks. Don't go against the IV.
When you place a trade, remember this:
1. Always look for a 100% loss on options or 10% loss on stocks. If you think the commission is killing you, don't trade. (Canadian broker sucks)
2. You must buy or sell options that have more than 30 days to expire. If you don't have enough money or you are taking too big of your position, make it a cover call/put.
Have fun out there.
WallaceW
I like to make this trade by selling calls or sell stocks. Don't go against the IV.
When you place a trade, remember this:
1. Always look for a 100% loss on options or 10% loss on stocks. If you think the commission is killing you, don't trade. (Canadian broker sucks)
2. You must buy or sell options that have more than 30 days to expire. If you don't have enough money or you are taking too big of your position, make it a cover call/put.
Have fun out there.
WallaceW