Another crypto firm, BlockFi, filed for bankruptcy. The great Warren Buffet was right once again. Most people wrote him off several times over the past 5 years but in the end somehow he always comes out on top. The final nail in the coffin of his critics would be a major market crash, which would give him tremendous opportunities to deploy his billions.
On a personal note, it's been a busy start for the day. I rolled many of my positions to January and was able to close one of my positions.
What's my trade for today?
For those, who are new to my daily market comments, I place and document one trade a day with the objective of helping everyone learn how to trade options.
My today's trade is a standard strangle against #ATVI (#ActivissionBlizzard). The IVR (volatility) is fairly elevated and the movement of the stock is relatively stable. I am hoping that the IVR will drop soon enabling me to cash in on my position.
ATVI Daily Chart
Trade Type: Short Strangle
Strike: $67.5 / 82.5
Expiry: 20 Jan
IV Rank: 56.8
Cap Req: $774
Annualised Prof at Expiry: 161%
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.