Below 70.85 looking for acceleration to downside. Watch behaviour at green line.
Comments
pointsnfigures
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CME hit a top, had some bad news and it's summer doldrums. Broader market feels tired, but the play isn't to short stocks into September, feel like the play is to sell volatility into October.
pointsnfigures
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Agree, but think the broader market will hold. The play might be to buy the 68 puts, sell the 75 calls and watch volatility leak out of the market, or sell the 72 straddle