Earnings Beat – ILMN Trade

Market Context
Good day Insiders,

Illumina is also reporting earnings post the close today. Volatility is sitting at a prime 72% which gives us an expected move of +/-$17. At the time of this update, we are trading at 285 and are going to extend our coverage a tad further beyond 17 dollars using our 3 trades, the unbalanced condor, the selling of a put spread and the buying of a call spread. This trade will use $7,800 in margin. Let’s see where we go from here.

The Trade
Our 3 pieces of the unbalanced condor, the selling of a put spread and the buying of a call spread.

Risk & Reward
We will use $7,800 in margin and will extend our downside coverage to 242 which is -40 points away from where we are.