Rolled: IWM June 17th 165/200 Short Strangle to July 1st 158/194... for a .90 credit.
Comments: Locking in some realized gain here on this little bounce, recentering side risk, and receiving a credit all at the same time. I rolled both sides to the 16 delta strikes, so that the position is back to delta neutral.
Total credits received of 4.69, relative to a current short strangle price for the July 1st 158/194 of 3.28, so I'm up 1.41 ($141) on the position.
IWM
Opening (IRA): IWM July 1st 154 Short Put... for a 1.64 credit.
Comments: Keeping on keeping on ... . I don't have much IWM on, so am selling something new in the July 1st expiry, targeting the <16 delta strike that is paying at least 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
$AMC Bullish Option Flow AMC saw bullish Call buying and Put writing today, currently trading +2.7% afterhours . I followed with the 5/20 $13 calls. Bullish confluence in RSI indicator
First line of resistance $14.8/$15 zone will take profits there, with a break to upside implying a further move to $17 zone 10 day MA (blue line)
Lot of supply overhead, move will happen fast where I would suspect a typical dump.
Use a stop loss : )
Cheers
5/18/22 ALBAlbemarle Corporation ( NYSE:ALB )
Sector: Process Industries (Chemicals: Specialty)
Market Capitalization: $27.636B
Current Price: $235.98
Breakout price: $243.05
Buy Zone (Top/Bottom Range): $231.20-$210.80
Price Target: $263.40-$265.50 (1st), $288.00-$291.50 (2nd)
Estimated Duration to Target: 86-90d (1st), 159-166d (2nd)
Contract of Interest: $ALB 9/16/22 250c, $ALB 12/16/22
Trade price as of publish date: $22.20/contract, $31.05/contract
5/18/22 CFCF Industries Holdings, Inc. ( NYSE:CF )
Sector: Process Industries (Chemicals: Agriculture)
Market Capitalization: $22.623B
Current Price: $101.61
Breakout price: $109.50
Buy Zone (Top/Bottom Range): $99.80-$84.80
Price Target: $152.30-$154.00 (2nd)
Estimated Duration to Target: 187-195d (2nd)
Contract of Interest: $CF 11/18/22 105c
Trade price as of publish date: $14.10/contract
5/18/22 SBLKStar Bulk Carriers Corp. ( NASDAQ:SBLK )
Sector: Transportation (Marine Shipping)
Market Capitalization: $3.267B
Current Price: $30.65
Breakout price: $32.00
Buy Zone (Top/Bottom Range): $30.55-$26.80
Price Target: $39.60-$40.00 (4th)
Estimated Duration to Target: 225-232d (4th)
Contract of Interest: $SBLK 11/18/22 30c
Trade price as of publish date: $5.00/contract
5/18/22 SPYDSPDR Series Trust High Dividend ETF ( AMEX:SPYD )
Sector: Miscellaneous (Investment Trusts/Mutual Funds)
Market Capitalization: $ --
Current Price: $43.04
Breakout price: $43.80
Buy Zone (Top/Bottom Range): $43.40-$42.40
Price Target: $44.20-$44.40 (1st), $46.20-$46.90 (2nd)
Estimated Duration to Target: 69-70d (1st), 142-150d (2nd)
Contract of Interest: $SPYD 6/17/22 42c, $SPYD 9/16/22 42c
Trade price as of publish date: $2.50/contract, $2.95/contract
IWM - P5 arrived? If so, we bounce!The #IWM has traded in a wonderful way.
Watch how the #Medianlines , the whole #Pitchfork provided support, resistance and - if you know the rules, how they could be applied to make some $s.
However, we arrived on the P5, which is potentially morphing to P0 for the next move to the upside. Alltough I personally don't believe it because of this market environment, chances are high.
...can you hear the emotions nagging on me to un-follow the rules? §8-)
If we open next week below the L-MLH, we would trade further down to the WL (Warning Line).
As far as my trades are designed, I risk tiny and try to let them run by following the rules and Money-Managent.
#iwm #medianline
IWM - Russel's next haltGiven the nice turn at the Center Line, we have a new target for the IWM: L-MLH...at least IMO.
The yellow pitchfork is here to see, if the ongoing flow, the direction will change, and if the momentum is increasing or not.
If not, price will trade outside the U-MLH. Otherwise we will see a fast and hard drop.
5/11/22 BABoeing Company (The) ( NYSE:BA )
Sector: Electronic Technology (Aerospace & Defense)
Market Capitalization: $78.658B
Current Price: $132.95
Breakdown price: $130.20
Sell Zone (Top/Bottom Range): $167.05-$143.75
Price Target: $92.00-$90.90
Estimated Duration to Target: 129-137d
Contract of Interest: $BA 8/19/22 125p
Trade price as of publish date: $10.30/contract
5/11/22 CLXClorox Company (The) ( NYSE:CLX )
Sector: Consumer Non-Durables (Household/Personal Care)
Market Capitalization: $19.376B
Current Price: $156.23
Breakout price: $158.60
Buy Zone (Top/Bottom Range): $153.50-$145.30
Price Target: $162.40-$165.10 (1st), $173.20-$176.00 (2nd)
Estimated Duration to Target: 44-47d (1st), 97-101d (2nd)
Contract of Interest: $CLX 6/17/22 160c, $CLX 7/15/22 165c
Trade price as of publish date: $4.60/contract, $4.30/contract