After Okta Inc. (OKTA) reported earnings last night, the stock started to run in afterhours trading…and it’s expected to hit the ground running at the opener this morning.
Charlie Moon appeared on the Schwab Network to share his thoughts on how he would consider trading OKTA ahead of its quarterly earnings, highlighting some of the risk factors involved in trading the stock, and how much he believes it could move.
Charlie covered a number of details, including:
- Why he thinks OKTA’s low Implied Volatility (IV) makes it a “lottery ticket” trade
- His expected price range for OKTA, and why it looks poised for a big breakout
- What Charlie thinks has to happen for it to potentially hit its 52-week high
- How he would consider setting up a Strangle for this option trade
- The direction Charlie believes OKTA would have to go to potentially generate a 3X return
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