If I was bullish then I would say it was a beautiful day in the market but I am certainly not bullish yet. In fact, I am worried that the more the market keeps creeping up the more interest rate rises we will see.
So what's my trade for today?
I am keeping it super conservative so I went with #BAC (#BankOfAmericaCorp). I opted in for a narrow strangle just after the earnings.
The stats
Trade Type: Short Strangle
Strike: $30 / 36
Expiry: 19 Aug
Delta: -4
IV Rank: 33.2
Premium: $0.6
Cap Req: $403
Annualised Prof at Expiry: 175%
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-20220524
https://www.tycoonitos.com/community/market-comments/market-comments-20220419
https://www.tycoonitos.com/community/market-comments/market-comments-20220715
Let me know your thoughts.
Beautiful winner!
Closed at $0.35 for an annualised profit of 283%.