How to play Workday after Earnings Workday (WDAY) reported earnings last night. WDAY is a fast growing cloud-based application provider, and its results beat the consensus estimates on revenues and EPS. However, the stock seems to be down 8% due to some unknown reason, maybe something was said was on the conference call. […]
The Short Strangle is generally a trade that’s considered risky because it has unlimited Loss profiles on both the Call and Put sides. But in this case, with a buffer zone as wide as the Panama Canal, it made sense to put the Short Strangle on Priceline, especially because of a very special Implied Volatility arbitrage that had opened up in the days before it released earnings.