10% TP for my cap in 10 days? It's good.... Any kind of naked PUTs on big instrument are my favorite at high IVR with divergence. My choice for today: Walgreens Boots Alliance Inc.
Reasons: - RSI is already oversold with big divergence - breakeven point is little close, but allowed loss ($50 max) is manageable
SETUP: NAKED PUT for NASDAQ:WBA, because IVR is high, for 0.7cr * Sell 2 NASDAQ:WBA OCT13 '22 PUT
Max profit: $152 Probability of 50%Profit: 72% (TP: $95) Profit Target relative to my Buying Power: 10%
Req. Buy Power: $1035 (max loss without management before expiry, no way to let this happen!) Tasty IVR: 84 (very high) Expiry: 11 days
SOLD OCT13'22PUT @ 0.76cr
Trade closed: target reached
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Closed for 0.25db each. Target reached, exit before event.
Comment
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collected $97 on this position in 9 days. 10% of req. buying power