After French elections, the ES has gapped up this day. We have a bullish signal, so I sell Short PUTS to 2190 Strike (Delta 10). Volatility has fallen and is low at the moment, so check for increasing volas in the next days.
Trade: Symbol ES, June Future Duration: 53 days Strike: 2190 (Delta 10)
bullish? i dont see it sorry. What target are you looking for? Look at the daily/weekly. Scary BIG DROP coming.
Delta10
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@BudsAllDay, this is an option strategy on daily/week basis
BudsAllDay
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@BurntWill, Yes i realize its options i just dont see a bullish setup. What price does /ES have to print for you to maximize your profit? I think its going to get smoked.
Delta10
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@BudsAllDay, I get my option premium, if ES does not fall under 2.190 until 9th of June, but since ES is raising and therefore the options premium is getting lower all the time, I will buy back my option around 80% win (probably around 15th May)
Delta10
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@BudsAllDay, if you combine ES with VIX you can see whether the ES is trending or market turns