The VIX is down despite the upcoming CPI report, which is scheduled to be released on Thursday. What this tells me is that the market believes that it no longer matters. They know that even if the number is bad (meaning that it is higher than before) the Fed will not allow the market to tank. The risk would be way too high.
On a more personal note: I placed an earnings play on SQ and it was fine after the earnings, however since the earnings the stock has briefly increased another 7.7%. It has the tendency of moving big so I decided to sacrifice some of my credit and readjust my position upwards.
So what's my trade for today?
#AMZN (#Amazon). The stock was trading as high as $188 a year ago and is now more than 50% cheaper so I thought I try my chances with a naked put at $85 with only 11 days till expiration. If it doesn't work out then I can simply roll it to December.
AMZN Daily Chart
Trade Type: Short Put
Expiry: 18 Nov
IV Rank: 41.2
Cap Req: $1253
Annualised Prof at Expiry: 273%
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.