Our Trade On Joby Aviation

Author: David Pinsen | August 04, 2025 01:44pm

Note:  JOBY is buying Blade Air Mobility, Inc. (NASDAQ:BLDE), an “Uber for helicopters”, causing JOBY shares to spike 21% intraday. I'm not going to chase the stock here.

Why JOBY?

• Theme fit: It directly advances one of the macro theses outlined here: Reindustrialization, Embodied AI, Energy, And Crypto

• Catalyst window: Earnings land this week, with additional headline potential in the weeks that follow.

How I'm structuring it (at a high level):

• I've built a trade with uncapped upside—so if the story accelerates, I'm not capping the right tail.
• At the same time, I'm harvesting the elevated pre-earnings implied volatility to trim net cost without dulling that upside.

Risk notes:

• I'm sizing for a typical event week (no heroics).
• If the catalyst disappoints, I'll keep the drawdown bounded by design rather than conviction.

Details below

Today's Top Names Trade

The company is Joby Aviation (NYSE:JOBY), and our trade has three legs:

1. Buying the $18 strike call expiring on January 16th, 2026,
2. Selling the $17.50 strike put expiring on August 8th, 2025,
3. Buying the $15 strike put expiring on August 8th, 2025…

For a net debit of $2.60. The max gain on 2 contracts is uncapped, the max loss is $1,020, and the break even is with JOBY at $16.80*.

*Note: The $16.80 "break-even" is Fidelity's model at entry; our true expiration break-even is $20.50 (or $22.00 if the short-dated put spread finishes at max loss).

Exiting This Trade

Assuming this fills, I'm going to open a GTC order to exit half of the contracts at $7.50, and aim to get out of both calls before expiration for the best price I can get. [Obviously, it didn't fill]

Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.

 

Posted In: BLDE JOBY