The market conditions remained very unstable despite the #spy jumping up 1.8%. I certainly would not trust the market at the moment and would play it very safely.
However, #SLV ( #Silver ETF) jumped out today. The volatility is extremely high at 72.6, which means the premiums are very high too compared to the historical values.
As we can see it on the graph below the price went up from $20.34 all the way to $23.61, which is a 16% jump in a month.
Am I bearish on it?
To be honest I do not know which way it would go so I would set up a $21/25.5 strangle (sell $21 put and sell $25.5 call).
The stats
Trade Type: Short Strangle
Strike: $$21 / 25.5
Expiry: 14 Apr
Delta: -10
IV Rank: 72.6
Premium: $0.62
Cap Req: $255
Annualised Prof: 206%
Unless the war in Europe stops and the overall market volatility drops substantially within days, I don't expect this trade to be fast.
Let's see how it plays out.
Collecting a few coins here too.
Closing it for $0.60 for an annualised profit of 150%.
Today the stock moved higher so I decided to roll up the put side from $21 to $22 for $0.16 credit.
So the current position is $22 / 25.5