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We had a nice short squeeze past couple days but don't be fooled. Both long term and Short term trends are lower here. Yesterdays, Shooting Star isn't a bullish signal at all. Until Bonds stabilize this sector dead money for longs.
KRE might bounce here but we did have above average volume today. I wouldn't short here unless we start breaking yesterday's low. XLF didn't see the hire volume. Mixed read here for sure. My opinion, we are on verge of much greater down side.
Trying to gain some exposure here to banks.
Sold -1 Sep21 $60/66 strangle for $1.67.
Breakevens are at $58.33 & $67.67. I'll look to manage at 50% or deal with any troubles as they come.
If OI decreased, u know what to do.
and Consumer Protection Act PASSED. #MAGA
Forming Head and shoulders pattern
With considerable bearish divergence on the weekly chart and a fragile daily chart, investors should be wary of a break below the trend line of early 2015 at 58.70. Clearing this area triggers a deep correction towards 54.45 and 51.30. Furthermore, chances of a new primary down trend will grow significantly with such a decline.
Exit-long and/or trading short ...
1.618 fib from 2009 lows right above price
With the shortened holiday week, I'm not expecting much out of the market in terms of volatility, so don't anticipate on putting on anything unless we get some exogenous event pop in the VIX.
However, there are a few that might be worth working possible setups in:
KRE (regional banks), with an implied volatility rank of 60 and an implied volatility of 22.
Entered an Iron Condor in KRE (Regional Bank ETF) on June 26th to try to strangle the price between 50.00 and 56.00 for 71 cents in credit. Break even in the trade is below 49.29 and on the high side above 56.71. Two days after the trade the Fed came out passing all banks that were involved in stress tests giving them a green light to add to dividends and start ...
Neutral trade on KRE to try and take advantage of what I think it would be two sided action between buyers and sellers. With a Implied Volatility Rank of 33, is still decent to sell a Strangle (53/57).
We make money as long as the price stays between 58.77 and 51.23 in the next 49 days, so we have a buffer of around 7% up or down. This gives us a probability of ...
In the last 90 days we had a 14% down move and got rejected at the 200 EMA. We might still have more room to go to the downside, but I am betting that we are still correcting and some buyers may start to come in.
With an implied volatility rank of 34 and 50 days to expiration, I sold a Jade lizard to eliminate the risk to the upside and still have room to the ...
Regional Banks have potential for a nice pop at this level. Sure looking like banks about to catch a decent bid.
In 2017-04-17 KRE had a bullish engulfing candle in support 51.5, unfortunately the next day didn´t had a confirmation. Now we see a gap breaking resistance 52.80. We can wait for a pullback to 52.85 to enter long.
KRE is a regional bank ETF, after a strong impulsive bull run, it looks like KRE is starting a correction. With a IV rank of 34 is at least decent volatility to try a neutral trade. I sold the 50/56 Strangle (25 delta) and collected $1.33 per contract.
With 64% probability of profit at expiration we need the price to stay between $57.34 and $48.67 which is a ...
KRE Absolute 030717
Regional banks broke out.