Options involve risks and are not suitable for all investors. Please read the Characteristics and Risks of Standardized Options carefully before trading. Characteristics and Risks of Standardized Options. https://bit.ly/2v9tH6D

Understanding trading strategies in theory is one thing, but crafting actual trades is where real traders are made. Small decisions like choosing options strike prices, how long to stay in a trade, and when to get out can make a big difference. In this episode of Tradecraft, we use thinkorswim® paperMoney® to demonstrate a couple of ways to trade long strangles on two different stocks with upcoming earnings reports. Along the way talk through some of the nuances of setting up and managing the trades.

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