Bearish Tracking. Have bought puts looking for the market to crash in the coming days to weeks due to the surge of negative data out there and various niche markets crashing.
... for a 1.58 credit.
Comments: With 7 days to go and with the short put at >50% max, rolling this down and out to the April 8th 175 strike, which is paying around 2.10. I've collected a total of 4.08 in credits relative to a current price for the 175 short put of 2.05, so have realized gains of 2.03 ($203) so far.
We can either go lower to fill that open gap right off the bat...
or
We're going to go a bit higher to form the second shoulder, creating the H&S with a downside target of $193...
Either way, that gap is filling — not sure if it will today, but likely for next week and for certain before March's 3rd Friday.
The StochasticSlow is looking overbought, and the...
I will say it again. Caution in all asset classes remains. How much risk are you taking on for how much reward you are expecting to acquire?
Keep asking yourself that question. Better to be out of the market wishing you were in rather than being in the market wishing you were out.
... for a 2.34 credit.
Comments: Locking in some realized gains (.72/$72) here by rolling out a smidge early to at-the-money with 28 days to go. Total credits collected of 15.14 relative to the April 1st 201 short straddle price of 16.07, so still a little underwater at the moment.
The IWM has completed It's classic Wyckoff Distribution and we are now at Phase E. The target is 170-169 where we have found support.
This is a warning for the entire Stock Market to abandon ship while you still can.
The IVM is the Titanic and has hit the ICEBERG. We don't have enough boats to save everyone. People will be left on the ship stuck at all time...
From what I see is utilizing the fib retracement from the 2020 low to the top of you can see great support and resistance . Ironically looks like it's going to flirt with the 0.618 fib retracement level. IWM is on it's way down and I see it filling the gaps that I circled. Along the way the SPY is mimicking the movement of IWM , so I see more downside for SPY as...
