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Full Profit from my ISRG Earnings Play

The Monday after options expiration is always a delight for me, as all the short option positions that I've held through any sort of volatility just disappear off my open position sheet and I'm left with a nice chunk of credit and freed up margin.

ISRG is one of those plays.

Back on October 20th when ISRG was reporting earnings, we had seen a strong bidup in implied volatility compared to the range we've been building. So I structured a trade for my subscribers in which we were making a mildly bullish bet but mostly selling volatility. You can see the full post here.

Here was the original risk profile:

Given the position sizing suggested for a 40K portfolio, we will be taking in a full credit of $760, with a total return on risk of 61%.

If you like trades like this and want solid, profitable option setups that help to manage risk, consider joining up with the rest of my subscribers!

by Steven Place

Steven Place is the founder and head trader at