$ADBE STRANGLE 261120 CALL 275.0/PUT 205.0$ 1️⃣ Why am I making this trade now?
ADBE short strangle expiring 20th Nov
Short call $275
Short put $205
Decent $5.5 credit collection expanding profit range to $75
Earnings on 9th Dec so the setup skipped earning period reducing potential volatility.
ADBE fell 32% year to date but also is up 23% since late June.
Believed the price will face resistance as most moving averages are still bearish.
Short strangle sets the boundary of where I think ADBE might land during this period so as long as it stays within range, I'll be set.
2️⃣ What’s my plan from here?
take profit separately by each leg as it hit La profit target of between 70-90%.
Cut loss if the leg hits strike price. 
ADBE Strangle
10-09 00:59
US275.0/205.0
| Side | Price | Realized P&L |
|---|---|---|
| Credit Open | -5.35 | -- Holding |
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