We had a bit of downwards movement today, just like I expected it over the past couple of days.
My feeling is that the VIX will keep going back up over 30 and the market will continue moving down.
So what's my trade for today?
Once again it's #LVS (#LasVegasSands). I only closed this trade 2 days ago and now I could re-open it for more credit than what I closed at it. But instead of selling the July $28/40, I decided to take a bit less risk on the up side and go with the $42 call instead. The potential ROI is phenomenal.
The stats
Trade Type: Short Strangle
Strike: $28 / 42
Expiry: 15 Jul
Delta: -6.2
IV Rank: 58
Premium: $0.95
Cap Req: $354
Annualised Prof at Expiry: 272%
My previous LVS trade from 2 days ago:
https://www.tycoonitos.com/community/market-comments/market-comments-20220527
IMPORTANT: Studying previous trades provide the opportunity to everyone to learn a great deal so I encourage you to click on the links below and digest the info.
https://www.tycoonitos.com/community/market-comments/market-comments-20220226
https://www.tycoonitos.com/community/market-comments/market-comments-20220420
Let me know what you think.
Great return!
Closed at $0.86 for an annualised profit of 317%.
Rolled down the call side to $38 for $0.27 credit.
Total credit: $1.22