ATVI Bearish inclined Naked Calls 24 Sep Expiry (Sep Track 1)
This is Track 1, Trade 2 of the September trades. This trade follow the following theme that I have crafted.
Industries that performed too well in 2020 (Market wise/product/service) might be unraveling because of their inability to keep up to the new or returning behavior shifts of people getting out of homes and back outdoors.
After spiking early in the year (Feb), Industries such as eGaming and eSports seem to range or trend downwards. They have generally not hit that previous high despite good earning reports.
I would be more comfortable selling into an ETF. But all the eGaming and eSports ETFs have terrible prices now.
Sold 110 Puts @ 0.50 Strike 91
% to Strike is 10% from entry
ATR percentile is high so this is good
Rising RSI , so this could be an issue
Max Gain: est $5500
Total BP Block: 95K
Industries that performed too well in 2020 (Market wise/product/service) might be unraveling because of their inability to keep up to the new or returning behavior shifts of people getting out of homes and back outdoors.
After spiking early in the year (Feb), Industries such as eGaming and eSports seem to range or trend downwards. They have generally not hit that previous high despite good earning reports.
I would be more comfortable selling into an ETF. But all the eGaming and eSports ETFs have terrible prices now.
Sold 110 Puts @ 0.50 Strike 91
% to Strike is 10% from entry
ATR percentile is high so this is good
Rising RSI , so this could be an issue
Max Gain: est $5500
Total BP Block: 95K
Trade closed: target reached:
Probably could be my favourite of the year