... for an 80.91 debit.
Comments: After taking off my August 88 monied for a small profit, re-upping in shorter duration, but with a better break even than what I had with the August 88. Selling the -75 delta call against a one lot of stock to emulate the delta metrics of a 25 delta short put, but with built-in short call defense.
My general goal here is to...
AMEX:XBI Firstly, I may have an unhealthy attraction to this ETF. I have been in and out of this ETF a number of times over the last few months and overall, just a few $ profit.
Having said that this has been basing Since January 2022. The longer the base the bigger the break, or so the Wall Street Axiom goes. It did breakout in February 2024 and quickly failed...
Hi guys ! a bullish continuous head & shoulders pattern could be happen if neck line will be broken and price tolerate one day trading above 91, in such a scenario XBI could reach around 97, I will update the post later …..
Hi guys ! a bullish continuous head & shoulders pattern could be happen if neck line will be broken and price tolerate one day trading above 91, in such a scenario XBI could reach around 97, I will update the post later …..
... for a 1.25 credit.
Comments: Rolling out the short call aspect of my XBI covered call at ~50% max to the June expiry for a 1.25 credit.
Cost basis now 85.94 (See Post Below) minus 1.25 or 84.69.
probably the influx of money into biotech this morning has a rippling effect all day on this etf as it retraces above its gap to sell off levels again.
I like this breakout on XBI.
I'm in with a bigger position and we're sitting right at the 100SMA> We could retest from here closer to 88/86 but below that I'd cut the trade.
It's also sitting in a demand zone and ideally moves above $92/ 93.
AMEX:XBI I put this trade on yesterday morning as it broke above the short term downtrend line. However, I closed it near the end of day as the whole market was giving up its gains. (I did make a small profit).
I am now back in it again as it regains the 20 EMA (green). My stop is just below today’s low which also corresponds with the 20 EMA.
It looks like...
... for a 1.90 credit.
Comments: Selling a put here, since the resulting cost basis if assigned shares would be lower than the cost basis of the position I've currently got on now. The full position is now a June 21st 82/88 covered strangle (i.e., short put, stock, short call).
Will look to take profit at 50% max.
Metrics:
Buying Power Effect/Break Even/Cost...
Biotechnology is expected to be a hot subsector this year as healthcare recovered further from
the COVID pandemic anything from startups to big pharma- from vaccines to new drugs for
diabetes, liver disease and obesity. This is shown on a weekly chart to show the long term trend
with XBI pivoting to bullish back in early November. I add long positions when I...
XBI is pushing back into strong resistance in the range on 96.5 - 100.
Looking for a higher high with momentum divergence to setup another round of weakness.
Biotech is still near its Covid lows.
This etf is about to test a key level.
Expecting a bounce here, lets see.
$ 87.87 - 88.99 is the immediate support.
$ 79.23 - 80.50 is the next strongest support.
$ 93.15 - 93.21 the first major resistance above.
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... for an 85.94 debit.
Comments: 32.5% 30-Day IV. Buying a one lot and selling a -75 delta call against to emulate a 25 short put, take advantage of call side IV skew, and to have built-in defense via the short call.
Metrics:
Cost Basis/Break Even/Buying Power Effect: 85.94
Delta/Theta: 28.5/4.31
Max Profit: 2.06 ($206)
ROC at Max: 2.40%
ROC at 50% Max:...
XBI appears to be indicating signs of bottoming out, with a potential target range of 103/104 by the end of April 2024, provided that the 92/95 range holds as support.
AMEX:XBI Formed a flat base from early January to late February before breaking out. You can see on this chart it is either a failed break-out (with more downside to go) or it is retesting that breakout area and will soon resume its upward trend. All TBD.
In addition to coming down to the breakout area it looks like it “may” be getting support at the 50 DMA...
XBI just recently broke out of a major range and is now on its way to retake the 200 wk moving average. With many biotechs breaking out of early bases, XBI looks likely to break to the upside.
... for an 81.63 debit.
Comments: 32.1% 30-Day IV.
My general preference for ETF IV is >35%, but there isn't much currently there in my ETF screener, and I'm already in a GDX position: TQQQ (52.3%); USO (38.1%); GDXJ (35.0%).
Buying a one lot and selling the -75 delta call against to emulate a 25 delta short put with "built-in" defense of the position via...
