We had a resting GTC order filled at our profit target in the Paid-to-Play portfolio: [Read more…]
[Options] Looking For a Quick Hit
To quote our Head Technical Analyst at All Star Charts, Steve Strazza: “Bullish setups are hard to come by these days.”
Yeah.
But, for those willing to venture into the choppy waters, recent market action has provided us with some nearby risk management levels that give us the opportunity to act quickly if we’re wrong, limiting our losses while giving us multiples of potential profit (as measured against the risk).
And today’s idea comes from the only sector to show YTD gains this year.
What’s not to like about that?
Floating world of Fixed Income
Bonds form the largest money market in the world. The world of fundamental analysis has a lot of data, but when it comes to technical analysis, we narrow down the factors that matter. Basically, Interest rates are to the bond market what the price is to the stock market. This post will look into this topic and examine the present opportunities.
[Options] A Discretionary Fade
It’s been a minute since we’ve put some delta-neutral credit spreads on. And while VIX is off its highest levels of the year, there is still plenty of elevated premium in pockets.
The team here at All Star Charts has been monitoring the elevated options premiums in the Consumer Discretionary space. The $XLY ETF has been persistently hanging around the top of our implied volatility lists for the last couple of months. We talked about it yesterday during the @allstarcharts live twitter spaces chat.
And I like having a few delta-neutral trades on to provide some portfolio balance against my bullish and bearish directional bets in individual stock names. So $XLY is providing us a good opportunity to collect some income.
[Read more…]
[PLUS] June Weight of the Evidence Dashboard: Higher Rates & Less Liquidity Taking Toll On Economy
[PLUS] Weekly Town Hall w/ Willie Delwiche
This is the video recording of the June 2nd Weekly Town Hall w/ Willie Delwiche.
06/02/22 2:00 PM ET [Read more…]
[Options] Prepared for a Zoom in Either Direction
We play with the cards we are dealt. There is nothing else we can do. We cannot employ willpower to create market conditions into being the way we’d prefer them to be. They are what they are, it is what it is. So we work with what we’ve got.
And what we’ve got right now are a bunch of badly beaten up stocks. Many still off 60%+ from their recent highs.
Dumpster diving isn’t my favorite way to find new ideas to trade. But my man Strazza enjoys the exercise from time to time and recently, he’s uncovered some notable insider buying and unusual options activity in some former highflyers, most notably Zoom $ZM.
But first, let’s survey the damage. This probably isn’t new to many of you, but look how far ZM has fallen from its recent perch atop Momentum Mountain: [Read more…]
[Options] Piggybacking for a 200-Dollar Roll
Back on February 2nd, we initiated a long-term bullish bet in Chevron $CVX January 2024 150-strike calls. You can read all about our thinking at the time here. In short, we were of the belief that a big breakout in the energy sector was appearing likely.
As you can see from this updated chart, our bet proved to be prescient. We’ve already taken back our original risk capital in this trade when we sold half of our position on March 2 at double what we originally paid. That has given us the super power to continue holding the remaining half position until now, achieving more gains.
While we still continue to our remaining January 2024 calls, the chart action suggests to us that another leg higher in $CVX may be imminent. And with the big round number price level — $200 — dangling above, we think there’s an opportunity to make an additional tactical bet to augment our current gains in this position.
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