Straddle detected!
Based on our team's research of the options market, we expect buy activity at the support level or sell activity at the resistance.
We primarily consider levels to be activity zones, but not to be a super-fine level for establishing a limit order.
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AMEX:EFA double top is forming, at support now at the 50% fibonacci retracement, if it breaks you can see the next levels in the chart.
Top 10 Holdings
Nestle SA. 2.22%
ASML Holding NV. 1.75%
Novo Nordisk A/S Class B. 1.74%
LVMH Moet Hennessy Louis Vuitton SE. 1.58%
AstraZeneca PLC. 1.47%
Roche Holding AG. 1.46%
Novartis AG Registered Shares. 1.41%
Shell PLC. 1.36%
... for a .15/contract debit.
Comments: Filled for a .65/contract credit. (See Post Below). Closing out here for a .15/contract debit. .50 ($50) profit per contract.
... for a .23/contract debit.
Comments: Opened these for .52/contract. (See Post Below). Closed here for a smidge greater than 50% max with 31 days to go. .29 ($29) profit per contract.
... for a .52/contract credit.
Comments: Slowly building an EFA (ex. Canada/U.S.) position here on weakness. Targeting the <16 delta strike paying around 1% of the strike price in credit.
... for .65/contract.
Comments: Deploying a little bit of buying power into EFA on weakness here. It has a high correlation with SPY (3-month of .88), but with a higher 30-day IV (29.02% versus SPY's 23.1%).
As long as we don't hit a recession like in 2007 or in 2020, we are at historical trend support. good place to buy.
Invalidated with weekly/monthly close below blue trend line.
EFA seems better than Europe as a whole.
... for a .16/contract debit.
Comments: In for a .66/contract credit. (See Post Below). Out for .16 here; .50 ($50) profit per contract on movement plus IV crush.
... for a .66/contract credit.
Comments: High IVR/high IV at 114/35. Starting to build a position in EFA here while I wait for U.S. equities positions to come in. Targeting the <16 delta strike paying at least 1% of the strike price in credit. Unfortunately, the weeklies aren't that great from a liquidity standpoint, so will have to ladder out in the...
May's monthly candle closed above April's high.
If price returns to April's high, then I will begin purchasing call options at the 57.50 strike with a July 2 expiration.
... for a 3.33 credit.
Notes: My last acquisitional setup. Current yield at 3.48%, which beats SPY's weak sauce 1.89% hands down. Fine with getting assigned, proceeding to cover, or just keeping the premium.
A review of EFA shows a slight break below a perceived neckline with stochastics indicating that further downside is possible. When reviewing EFA versus SPX, EFA is performing better. I'll attach that chart below.
While SPX might outperform EFA over the next week or two, the SPX/EFA chart looks toppy and in an diversified asset allocation format, EFA or...
It shouldn't come as a massive shocker to anyone that the U.S. market has been and has gotten even more expensive. For an investor that is just starting out, it is enormously frustrating, since virtually everything is at the top of a very long term trajectory with the broad market yet again knocking at the door of all-time-highs.
Here are a few acquisition ideas...
