Opening: IWM April 22nd 175/217 Short Strangle... for a 3.68 credit.
Comments: High IVR/IV (73/35). Selling 15 delta on both sides. 3.68 credit on buying power effect of 21.09 (on margin). 17.4% ROC at max; 8.7% at 50% max.
IWM
Closing: IWM April 8th 194C/201C Short Stranglefor an 18.11 debit.
Comments: Collected a total of 19.75 in credits with this little fella, which started out as a 201 short straddle that I inverted defensively. (See Post Below). Closing out here for a 1.64 ($164) profit.
Closing: IWM April 1st 194C/200P Short Strangle... for a 16.57 debit.
Comments: This started out as a 200 short straddle that I inverted slightly. Collected a total of 19.32 in credits, so closing out here results in a realized gain of 19.32 - 16.67 = 2.65 ($265). Still have the April 8th 194C/201P inverted on (which also started out as a 201 short straddle).
Rolling (IRA): IWM March 25th 178 Short Put to April 29th 170... for a 1.27 credit.
Comments: The March 25th 178's at >50% max, so rolling out to the <16 delta strike paying at least 1% of the strike price in credit. Total credits collected of 4.36 (See Post Below) plus 1.27 or 5.63 relative to what the April 29th 170 is paying (currently 1.96), so I've realized gains of about 3.67 ($367) so far.
RTY UpdateRTY MFI overbought again....
It's like they're trying to melt it up for some reason. Really odd considering retail tanked today. Could just be a gap fill attempt.
Whatever, probably best to stay out for a day, most garbage stocks are small cap
RTY UpdateRTY MFI almost overbought
My general rule is 3 days for a short squeeze, but I may be looking at puts if RTY MFI gets overbought tomorrow. Might do next week's puts to be safe, Fed meeting and what not. Not to mention I doubt anyone wants a long position over the weekend.
Rolling: IWM April 1st 201 Short Straddle to April 8th... for a 1.16 credit.
Comments: Taking a little profit (1.40/$140) by rolling here. Total credits collected of 16.30 relative to a short straddle price for the April 1st 201 of 15.82.
Rolling (IRA): IWM March 18th 181 Short Put to April 22nd 165... for a .69 credit.
Comments: This isn't quite at 50% max, but only has 11 days to go, is in profit, and is the highest strike I've got hanging out there in IWM. I've collected a total of 3.83 (See Post Below) + the .69 here for a total of 4.52 relative to a current price for the April 22nd 165 of 1.80, so have realized gains of 2.72 ($272) in this puppy so far.
Leading Indicators messyWith the current global situation where there are day by day developments, the Leading Indicator panel offers similar dichotomy...
The JNK ETF is heading further down -> Bearish for equities.
The IWM ETF is likely to push down in a somewhat limited fashion -> Bearish for equities
The DJT ETF appears to be bouncing up -> Bullish for equities
The VALUG looking for more downside -> Bearish for equities
The TIPS ETF is spiking after a gap up, bullish for TIPS -> Inflation is exploding! Ususally bullish for equities, but in this instance, not likely.
The TLT ETF is bottom feeding, and there is a MACD bullish divergence -> this suggests that the fear is not yet great enough for a flight to safety. Not yet.
The VIX just broke out of a trend line and is pushing towards 45.
The HG1! copper futures suggest an anomalous accumulation of copper, maybe forerunning the equities market upwards, but otherwise, if a general reflection of commodities rocketing in prices.
Overall, Bearish bias on equities, with the chance of a quick rebound soon... but not before a spike down first.
Totally tied to the Russian Ukraine events for now.
$IWM Key Levels, Analysis & Targets$IWM Key Levels, Analysis & Targets
My targets for the next swing.
Target 1- 184.57
Target 2 - 159.26
Support around 142 (not labeled today)
Let’s see what the IV is at the time when it hits to determine sell targets.
GL & happy swinging…
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On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
ONLY ADD at support levels & FIB levels… labeled (most of the time)
(Support=Green, Resistance=Red, Trendlines=Blue) Fib will be labeled if any and their colors will vary.)
I start every position with .5 - 1% of my account and build from there as needed and as possible.
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
3/6/22 TECKTeck resources Ltd ( NYSE:TECK )
Sector: Non-Energy Minerals (Other Metals/Minerals)
Market Capitalization: 22.179B
Current Price: $41.49
Breakout price: $38.65 (hold above)
Buy Zone (Top/Bottom Range): $40.30-$37.10
Price Target: $30.80-$31.20 (Reached), $38.20-$38.90 (Reached), $46.00-$47.80 (3rd)
Estimated Duration to Target: 21-22d (3rd)
Contract of Interest: $TECK 4/14/22 43c
Trade price as of publish date: $2.18/contract
3/6/22 BOXBox, Inc. ( NYSE:BOX )
Sector: Technology Services (Information technology Services)
Market Capitalization: 4.057B
Current Price: $27.36
Breakout price: $28.00
Buy Zone (Top/Bottom Range): $26.75-$24.40
Price Target: $30.00-$31.00
Estimated Duration to Target: 73-75d
Contract of Interest: $BOX 5/20/22 26c
Trade price as of publish date: $2.85/contract
3/6/22 XUnited States Steel Corporation ( NYSE:X )
Sector: Non-Energy Minerals (Steel)
Market Capitalization: 8.198B
Current Price: $31.42
Breakout price: $30.55
Buy Zone (Top/Bottom Range): $29.45-$26.95
Price Target: $38.00-$39.30
Estimated Duration to Target: 65-69d
Contract of Interest: $X 5/20/22 35c
Trade price as of publish date: $2.50/contract
3/6/22 AALAmerican Airlines Group, Inc. ( NASDAQ:AAL )
Sector: Transportation (Airlines)
Market Capitalization: $9.471B
Current Price: $14.59
Breakdown price: $14.70
Sell Zone (Top/Bottom Range): $15.40-$17.00
Price Target: $11.20-$10.00
Estimated Duration to Target: 112-116d
Contract of Interest: $AAL 6/17/22 15p
Trade price as of publish date: $2.26/contract
$PLTR Bull ThesisI like the chart on this one.
Might retest 11-11.50 support before climbing its way up to fill the gap.
I would like to see this one hold the 12$ area, create a new demand zone there.
If the war doesn’t escalate (I genuinely hope so) I think the market priced in the rate hikes. So we might get a direction soon.
Good luck traders!
RTY MFI OversoldRTY MFI went oversold and now bouncing up. Indication of a melt up when RSI doesn't go oversold.
Odd thing is about half my board is red even though small caps are up 1.5%. That's really unusual, but looks like the garbage stock dump is done for the day.
Gotta headache so heading back to sleep, good luck
Small-Caps Are Soon Looking To RallyWe have a Double Bottom at the 800 Day Simple Moving Average and at the PCZ of a Bullish ABCD and are trying to break free from a Downtrend we've been in for the last several weeks if all goes as expected we will rally towards the 200 Day Simple Moving Average up near $2,220
$IWM Prepares for massive selloff following global crisesBearish Midterm...Will keep a track of this to see how it does.
$SPY $IWM Looking to make a cliff dive downwards in coming weeksBearish Tracking. Have bought puts looking for the market to crash in the coming days to weeks due to the surge of negative data out there and various niche markets crashing.
IWM RST drown in 2021Will be interesting to see if this level is support for a while. Also the RST I drew last year sure worked , wow if it sees the high line.
2/27/22 ONON Semiconductor Corporation ( NASDAQ:ON )
Sector: Electronic Technology (Semiconductors)
Market Capitalization: 27.464B
Current Price: $63.50
Breakout price: $65.35
Buy Zone (Top/Bottom Range): $60.30-$55.40
Price Target: $72.00-$73.40(1st)
Estimated Duration to Target: 49-54d
Contract of Interest: $ON 4/14/22 65c
Trade price as of publish date: $4.05/contract
