Currently, the candlestick is in a consolidation phase. However, based on the trend analysis and observing the support and resistance lines, there is an opportunity for an upward movement. In the resistance direction, the price is likely to rise to 524.61. And if the direction reverses to a downward trend, the profit-taking point for the downward leg is at 466.43.
Selling pressure may be coming to an end on natgas Some 10 year NATGAS seasonality charts suggest a bottom by Mid-April and a top by Mid-June Similar UNG seasonality charts indicate the same thing Looking at the June 21st $13 - $14 - $15 & $16 calls Get some!
Tracking head and shoulders along with wave 5 of 5 completion to bring this into play. Two pieces of information to watch as the days progress. Feels bullish and it is But market moves in waves We care coming up on a correction when we complete 5 0f 5 Update as we go www.tradingview.com
Alright, y'all... tomorrow's trading range is not necessarily a difficult one for PPI. Options are not taking the range out too far even though we did get a good spike in the VIX... There is a full walkthrough on the video tonight.
Just for educational purpose trying this for the first time tomorrow AMEX:SPY possibilities ad drawn
... for a 30.31 debit. Comments: Decent 30-day IV at 34.0%, but I'm primarily looking to position myself to grab the June dividend. IV is skewed to the put side in this underlying, so the general go-to would be short put, but to grab the dividend, you have to be in stock. Because I want the extrinsic in the short call to exceed any dividend, I'm basically...
I was wrong in my idea last night that we were following a bat harmonic pattern in bear country. While I still see a pull back imminent, I note what I realize this morning, that this is not matching ANY harmonic pattern (AB and BC aren't aligning to the required .38 or .88 ratio)
The crossing of the 55 and 600 Day MA means a bullish change in small cap stocks. If large caps have strong earnings moving forward, I think small cap will follow and break this capitulation. From 175-190$ I will be buying for long term.
... for a 2.23 credit. Comments: A small engagement trade in the semiconductor ETF (31.5% 30-Day IV). Going somewhat wide here with the deltas, with the short option legs camped out at 16 delta on both sides. I generally like to collect one-third the width of the wings in credit for these, but am going a little more long-dated than usual, so want to give it...
... for a 39.64 debit. Comments: After taking off my 44 monied for a small profit, re-upping with a setup in the same expiry, but with a better break even. Selling the -75 call against a one lot of stock to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. Metrics: Buying Power Effect/Break Even: 39.64 Max Profit:...
... for a 43.00 debit. Comments: High IVR/IV at 52.7/38.7. Going monied here, buying a Johnny one lot and selling the -75 delta call against to emulate the delta metrics of a 25 delta short put to take advantage of elevated IV on the call side and to have built-in position defense via the short call. This is slightly shorter duration than I like to go (39...
... for an 80.91 debit. Comments: After taking off my August 88 monied for a small profit, re-upping in shorter duration, but with a better break even than what I had with the August 88. Selling the -75 delta call against a one lot of stock to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. My general goal here is to...
... for a 1.25 credit. Comments: Rolling out the short call aspect of my XBI covered call at ~50% max to the June expiry for a 1.25 credit. Cost basis now 85.94 (See Post Below) minus 1.25 or 84.69.
There is a strong break out which is a good sign of growing...
After confirmation of control in the first days of May, bulls enjoyed their dominance. The market opened with a gap up on Monday, rallied throughout the entire week, and closed very strongly within the top value area. There was some profit-taking on Monday, but sellers were not able to push the price even below the previous day's high. At this stage, there are no...
Macro Monday 46 Emerging Chart Trend in South America and Brazil Brazil is the largest economy in South America, followed by Argentina, Chile, Colombia, and Peru. These 5 countries together hold a huge 90% share of the South American economy. Today we will look at index charts for South America and Brazil to get an overall initial technical picture from...
Energy does not look good right now. XLE+XOP has an inverse correlation to the gold/oil ratio. The two only move into neutral and positive correlations for brief periods before one of them changes direction. Additionally, when the gold/oil ratio crosses 30 we’ve seen energy prices begin to fall to more extreme lows. The technicals above indicate gold is...