I took profits early.
music selection: “Doctor My Eyes” — Jackson Browne
On 12MAY2020, I opened a bull call spread in OKTA at the 160/165 strikes and 19JUN2020 expiry. I had 8% downside protection remaining as of this morning. Earnings are after close today and the implied move is +/- 9%. I decided a bird in the hand was worth two in the bush. I sold today and booked a profit of 75 dollars on 325 at risk. The trade was in force for 17 days and yields 23% or 495% annualized.
Devour your prey raptors!