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Uncle Theta Explores A High-Risk, High-Reward Result Strangle in TCS

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Uncle Theta's been doing some experimenting. And in the latest, he figured out something that's been happening for years. A drop in the option prices of TCS immediately after their results. There's a big run up and boom, the option prices - the implied volatilities actually - drop dramatically after results. Here's the chart we got out of Snap. (Capitalmind calculates each stock's Implied Volatility and you can chart it).

The spikes in the IV (lower panel) are an increase in expectation that TCS will move big time. We saw on 

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