Great to see a bit of pressure relief in the market, but not quite enough for me to close my positions.
The good news is that although the increase was quite small, the large drop in oil should serve as a catalyst for a rally next week.
So what's my trade for today?
#BA (#Boeing). The IVR is through the roof enabling me to sell a very wide strangle with 86% probability.
The stats
Trade Type: Short Strangle
Strike: $100 / 165
Expiry: 15 Jul
Delta: -8
IV Rank: 80.2
Premium: $1.71
Cap Req: $1380
Annualised Prof at Expiry: 162%
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-20220421
https://www.tycoonitos.com/community/market-comments/market-comments-20220520
https://www.tycoonitos.com/community/market-comments/market-comments-20220613
https://www.tycoonitos.com/community/market-comments/market-comments-20220523
What a beautiful winner!
Closed at $1.09 for an annualised profit of 410%.