Relatively big move to the upside today, which was certainly good for most of the positions I recommended in our Live Trading channel over the past few days.
What's my today's pick?
#XBI. I already traded this twice since I started my daily posts but could not resist to trade it again given the great results on the previous two trades. Also, yesterday the price was smashed pushing the IVR even higher. I chose the $75 put as it's still a fair bit below the current level so I'd like to think that it's a pretty safe trade.
XBI Daily Chart
Trade Type: Short Put
Expiry: 20 May
IV Rank: 62.4
Cap Req: $755
Annualised Prof at Expiry: 187%
Also worth mentioning that the NFLX (Netflix) earnings is taking place as I write this post and after being smashed (-30%) during the previous earnings, it is being absolutely hammered again and is currently down by another 22%. The trade I had will be a guaranteed loser so tomorrow I will have to see what can be done to minimise the loss.