GE short strangle, July 12 9/10.5, 3+ month channel

There is a clear channel that adheres to the peaks and troughs of the sideways trend on the price movement on the daily charts, starting from February 28th, 2019. Both the upper and lower boundaries of the channel have been tested multiple times during this period -- the more times the limits are tested, the stronger the both support and resistance become. The lower bound is at $9.00 and the upper bound is at $10.50.

By simultaneously selling the OTM $9 call and OTM $10.50 put, there is a maximum profit of $32 per contract reached if the price of GE is between [9,10.50] at expiry. The break-even points are at $8.68 and $10.82 respectively. We are choosing the July 12th contracts as GE is expected to report earnings July 19th. With 25 days until expiry, as a net seller we will collect the theta premium as GE stays within the historical channel that has held up over 3.5 months.