In today’s portfolio analysis, we kick things off by surveying our current portfolio. In doing this, we see the theta working in our CHWY Short Strangle, and the 21 DTE marker approaching in our PEP [Poor Man’s Covered Call.](https://www.tastytrade.com/tt/shows/from-theory-to-practice/episodes/the-poor-mans-version-covered-calls-covered-puts-02-21-2017 ) Then, we turn our attention to PFE earnings tonight. Interestingly, PFE also has a dividend payment coming up shortly after the earnings announcement, but today, we’re reminded that this will [only apply to in-the-money Short Calls.](https://www.tastytrade.com/tt/shows/from-theory-to-practice/episodes/71519-portfolio-analysis-how-dividend-risk-applies-to-long-calls-07-15-2019 )