A surprisingly quiet day today, which makes me question: is this the calm before the storm?
We might see the market remaining calm for a few days but as soon as the news comes out about another rate rise, we will see the market rattle again. For this reason, I certainly wouldn't call it the bottom of the bear market.
What's my trade for today?
I could not resist but to do an earnings play on #NKE (#Nike). The premium, as expected, is very high even for a wide strangle.
NKE Weekly Chart
Trade Type: Short Strangle
Strike: $70 / 130
Expiry: 19 Aug
IV Rank: 96
Cap Req: $1105
Annualised Prof at Expiry: 117%
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