EWZ is trading near its rising trendline support. Assuming that it could break below it, going with a neutral to bullish strat like a short put or a put credit spread would work to your favor even if the ETF breaks below, or trades flat.
Trade Idea:
Short Put: 28 Strike expiring 4/16 for $0.72 Credit. 72.5% Prob. OTM. and only $285 BP used for a max 25% ROC.
Trade Idea:
Short Put: 28 Strike expiring 4/16 for $0.72 Credit. 72.5% Prob. OTM. and only $285 BP used for a max 25% ROC.
Trade closed: target reached:
Close Short Put.
The 28-strike put is currently trading for $0.29 resulting in a $0.43 or 59% profit per contract.
The 28-strike put is currently trading for $0.29 resulting in a $0.43 or 59% profit per contract.
