... for a 1.46 credit.
Comments: Starting to build out my short put ladder into the third quarter, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into small caps.
In 2023I will focus a bit more on helping the tradingview community to become better traders and investors
using my approach.
I will use the update feed to post my Comments, Thoughts, and charts about economics, trading, and investing.
I will try to answer questions but am limited in what I can say publicly. Please keep that in mind.
Of course, I will keep...
Primary Chart: IWM on a weekly timeframe with downtrend line and major support and resistance zones
Note1: IWM is an iShares ETF that represents the Russell 2000 small-cap index in the United States. Though not as widely tracked as SPX, NDX, or DJIA, the Russell 2000 ( TVC:RUT ) is one of the major US indices. It is likely the fourth most watched US index.
Note2:...
GME recently bounced from the lows on the lower timeframe thanks to a Bullish Gartley and a massive amount of MACD Bullish Divergence and it has since come back down to fill the gap the rise created; now that GME has filled that gap it is going for a second leg up and the RSI is entering the Bullish Control Zone, and soon it will be Bullishly breaking out a macro...
The 3x Bearish Return ETF for the IWM is currently showing Hidden Bearish Divergence on the weekly at the 55-week EMA, and it looks like if this Hidden Bearish Divergence plays out we will see the ETF fall below the B point and begin to accelerate its Bearish Wave Structure which would complete between the 1.272 and 1.618 Fibonacci extensions.
This would mean...
Tech Surge: AI Stocks in the Limelight
The performance of US stocks in the AI sector has been nothing short of remarkable, with over $3 trillion added to its market cap since the final quarter of 2022. The upward trend suggests further potential growth despite a broadly stable or mildly declining US stock market outside the US Megatech sector. The enduring climb...
... for a 56.60 debit.
Comments: Since my previous double diagonal in IWM was such a hoot (See Post Below), re-upping here. Buying the back month 90 delta strikes (both call and put) and selling the front expiry 30 deltas, with the result being a delta neutral setup on fill.
As before, I tend to manage each side individually, so keep track of both my global...
MFI hit oversold. NQ RSI is almost overbought on this huge pump. Remember ES is in the whipsaw zone again.
I'm probably not trading today or tomorrow. Reducing the number of trades I make since the market is going sideways, and I'm not really making much money.... I'll put up a post, but it's still tracking that big blue arrow, lol.
Since I'm expecting...
ES and NQ are oversold but small caps arn;t yet, and it looks like we won;t see a bounce until it does.
Not chasing the drop at this point, so just waiting for tomorrow, lol
Hit overbought on RSI and MFI, but I think it's a pump and dump. Expecting a gap up tomorrow, maybe dump on Fed minutes?
Keep in mind RTY can go way overbought or oversold, least reliable of the index indicators. TLT already looks like it's hit bottom, so I don't see a tank coming either way.
MFI no longer oversold, RSI almost overbought. If it gaps up again tomorrow, probably a pump and dump.
Market usually whipsaws when Asia/US/Europe decide to go different directions. Next rally probably won;t happen until Europe goes oversold on the short term indicators. We'll see.
... for a 1.60 credit.
Comments: Targeting the <16 delta strike in the shortest duration paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. Would like higher IV to sell shorter duration in, but you can't have everything.
... for a 1.46 credit.
Comments: Re-establishing a September rung after scratching out a higher strike trade yesterday, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
The shortest duration trades in which the <16 delta strike is paying around 1% in credit:
IWM: August (at...
... for a 19.29 debit.
Comments: Long the -90 put in July, short the +30 put in April; short delta hedge against a long delta portfolio.
Cost basis of 19.29 with a 170.71 break even on a 28 wide.
* -- Long Put Diagonal.
... for a 1.48 credit.
Comments: Targeting the <16 delta strike in the shortest duration paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. IVR/IV isn't fabulous here at 1/22.7%, but will look to add in shorter duration and/or at better strikes in higher IV should we get it at some point.
... for a 1.61 credit.
Comments: Targeting the shortest duration <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into small caps.
This, admittedly, isn't an ideal premium-selling environment here, with 30-day at the very low end of the 52-week range, but will look to add at intervals and in shorter duration if...
... for a 1.71 credit.
Comments: Another "trouble maker" that I'm kicking the can on. Total credits received of 1.79 (See Post Below) plus the 1.71 here for a total of 3.50.
... for a 1.55 credit.
Comments: The weakness I would've like to had earlier ... . Targeting the <16 delta strike in the shortest duration paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
