The VIX is down a fair bit compared to the beginning of last week but the market is also down.
I would not be surprised if the market rallied again this week, which would hurt some of my positions.
I must admit that I am surprised how strong the market appears. There are lots of major fundamental concerns so to see a strong market gives me the impression that the market is expecting another quantitative easing soon as well as the reversal of rate rises. But what impact will that have on the already high inflation?
So what's my trade for today?
I could not resist another earnings play. This time it's on #UBER. The stock is near its low and has dropped $1 today, which gave me high confidence for a $22.50 put in December.
UBER Monthly Chart
Trade Type: Short Put
Expiry: 16 Dec
IV Rank: 75.8
Cap Req: $225.5
Annualised Prof at Expiry: 352%
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.