Apple is down nearly 2% today and IV rank is climbing toward 40. That combination is exactly what you look for before selling a strangle. The trade: sell the 280 put and the 335 call in the July cycle with 46 days to expiration, both at one standard deviation. The credit collected is over $400, theta decay runs at $13.50 a day, and the break-even on the downside sits near a level Apple has not traded at since its late May gap up. Both strikes are outside the expected move and the upside has never even been tested. Starting June 4 when the PDT rule is gone, this type of trade is accessible in any margin account with the right buying power. That changes a lot for smaller accounts. 📊 tastylive: tastylive.com 📰 Get Tom's pre-market analysis every morning: tastylive.com/newsletters 📘 FREE Options Strategy Guide: tinyurl.com/bp9ms763 📱 Follow tastylive on X: x.com/tastyliveshow Chapters 0:00 Apple Setup and IV Rank 0:32 Short Strangle Structur...