Market comments 20220701

Finally a bit of rally and a drop in VIX. I used this move to roll down some of my calls that I failed to roll enough earlier.

So what's my trade for today?

#WDC (#WesternDigitalCorp). In less than a month it dropped nearly 20% and is trading near a solid support line so I thought a $35 naked put would be a good one. Obviously I am banking on a bit of a bounce back.

WDC Weekly Chart

The stats

Trade Type: Short Put

Strike: $35

Expiry: 19 Aug

Delta: 14

IV Rank: 53.6

Premium: $0.73

Cap Req: $355

Annualised Prof at Expiry: 153%

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-20220623

https://www.tycoonitos.com/community/market-comments/market-comments-20220602

https://www.tycoonitos.com/community/market-comments/market-comments-20220606

Let me know your thoughts.