CRWD 03SEP PUT BUTTERFLY (2167)

[IgorKeymaster]

CRWD at 243.44

I’m looking for a pullback to a minor support around 225 before the next support level (180ish) comes into play.

Chart:

I’m going to set up a bearish broken wing put butterfly with 21 days until expiration.

This is a bearish strategy with limited risk of $330.00 and limited potential reward of $1,170.00.

This strategy will profit if the stock closes below $236.70 by Sep 3, 2021.

There is a 44.30% probability this will happen.

Risk Profile:

Order Ticket:

[IgorKeymaster]

CRWD at 231

We’re going to make an adjustment, taking most of the risk OFF the table.

P.S. For those that arent familiar with such adjustments, the easy trade management is to take the profit and look for another set up.

I’m selling the long puts in the 3SEP expiration and buying puts in the 10SEP expiration at 225 strike to make it a put calendar centered at 225.

Risk Profile:

Order Ticket:

[IgorKeymaster]

CRWD at 267

I’m going to add an OTM call calendar to rebalance this trade. I will stop out of this trade IF/WHEN CRWD trades over 300 or under 210

Risk Profile:

Order Ticket:

[IgorKeymaster]

CRWD at 283.60

I’m going to close out this trade here, for a small profit

Risk Profile:

Order Ticket 1:

Order Ticket 2:

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