Tesla and Alphabet Earnings Options Look

Subscriber Daily Trading Data Trackers for July 22 and ISRG Update

Yesterday we focused upon Intuitive Surgical (ISRG) we highlighted the 7/25 expiry $510/$480 put spread which cost $9.25, so risking 9.25 to make 20.75 for a 2.24x risk reward structure. Today ISRG is down 2.7% trading $497 and the put spread is trading $16, if you put this spread on we recommend taking off 60% of this position and letting the rest run. We have seen this same move before and a trade back to $510 area is not out of the question, so that would be our advice here if you have this on today:

As far as after the close today, we have Tesla and Alphabet earnings. As far as Tesla, the ATM (at the money) straddle is trading around $24 indicating a 7.2% move. Tesla a bit more tilted toward the call side with decent open interest from $335 on up. As far as the puts $310 strike stands out so a trade just above there may make sense. The $330/$310 put spread is around $7.75 so risking that to make 1.58x not the best risk reward we have seen. The $335/355 call spread is priced pretty similar, so this one is a crap shoot and we wouldn’t be playing it given the profile set up. Here is the chart and we are kinda in the middle here, no mans land:

As far as Alphabet and using the GOOGL symbol, it doesn’t get any more clear technically on the chart, this is a notorious risk/reversal level on the fibs and we would be better buyers of puts here. The ATM options straddle is trading around $11.25 indicating a 5.9% move. With that and regarding our bearish sentiment, using the 8/1/25 expiration options (next week) we prefer the $187.50/$175 put spread is trading $3.75 for a risk/reward of 2.33x. We believe this offers a decent profile for our readers to review and assess for themselves:

Ok that is it for now for the equity markets, as far as the futures markets, we saw Silver hit resistance, we expect initial sellers here, but ultimately we feel this level will prove to be a battle back and forth:

We also like the SP500 to reach our 6425 level on the weekly for a test, seems logical to test and get some weak shorts out and force it, but will see. Overall equities getting very stretched again:

Alright, we have all the subscriber only data up next, we urge you to become a full subscriber and truly break through that barrier of understanding in regards to our global financial system and perhaps implement some of our trading trackers into your own investment profiles! If you are sick of stagnating, sick of losing then join the ranks of MTR Subscribers!

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