There are lots of anxiety in the market at the moment. The inflationary pressures are very high and the earnings season is kicking off this week.
We will see loads of volatility for sure.
However, are we going to see the market moving lower?
I would assume so. At the end of the day I don't believe that the bear market is over. Not even close.
For this reason I closed off a couple of positions to free up some capital.
So what's my trade for today?
#LVS (#LasVegasSands). I was bearish on it last Friday and it worked out beautifully, so after the decent drop, I am now a bit bullish with a naked put at $30 strike and July expiry, which is only a few days away.
Trade Type: Short put
Expiry: 15 Jul
IV Rank: 67.3
Cap Req: $424
Annualised Prof at Expiry: 538%
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This worked out beautifully!
The option expired worthless so the annualised profit of 538%.