Finally IQ has seen a nice dip most likely due to profit taking on the online retailer sales tax news.
My guess is she continues a bit lower, especially if the low of June 15th's candle ($37.57) is taken out.
Here is my current plan to initiate a new position on the way down.
My guess is she continues a bit lower, especially if the low of June 15th's candle ($37.57) is taken out.
Here is my current plan to initiate a new position on the way down.
Comment:
First entry hit. 32.40 missed by 20 cents. I did sell some July $30 puts near the low yesterday for $1.90. They are already at $1.15.
Trade active:
I decided to go with selling puts to take advantage of the high IV of IQ. First position is $30 July puts for $1.90. I will be looking to enter $20 > $2 or $25 > $4 Jan 19 puts
Comment:
The past few days price action is telling me she wants to settle around $30 before making a push back up to the ATH.
Trade active:
Sold x3 $20 Jan 19 puts for $1.70
Comment:
Will look to sell 3-4 more of the same puts if IQ reaches $28.
Comment:
Covered the $30 July puts for $0.90 yesterday. Still holding the $20 Jan 19 ones.
Comment:
Trying to close the $20 Jan 19 puts at $0.90 for a 47% gain.