Trade ideas
XLELong via Jun15/Mar16 diagonal for $4.37
POP: 50%
Max Loss: $4.37
Stop Loss: Price at $64.40
Max win: As of right now, $263
Target: Price at $75
Long Jun15 $66 call: 61 delta
Short Mar16 $73 call: 14 delta.
I structured this trade to give me the most profit as close to my target as possible (in the case it shoots straight up), while still having a positive theta trade. For reference try to match the thetas of both options up for choosing a strike for your short.
I will continue to roll the short call each cycle to continue to eliminate basis as well.
XLE LONG OpportunityXLE (Developed Markets Energy Index) has recenly tested relative lows: support area withstanded the recent drawdown.
Long-term Fibonacci retracement level seems to provide further support.
This could be a good opportunity to enter a LONG trade, since support levels look strong enough and we have plenty of room above.
Entered @ 68.35
Stop Loss: Fibonacci support (-3.6% @ 65.88)
Target price: three times our risk (+10.8% @ 76.25)
Energy Select Sector ERY (short) / ERX (long)Possible Ascending Triangle here, let's see where it goes. Good luck.
Strangle on XLE (58% probability)With the strong move to the upside, I am betting that we are starting a new auction between 78 and the 71 levels. So with an Implied volatility Rank of 37, I sold a Strangle at the 30 deltas for a $1.36 credit. As long as the price stays between $78.35 and $71.65, we will be making money.
The Trade:
Short 73 Puts
Short 77 Calls
Credit $1.36 per contract
58% Probability of profit
4yr Symmetrical Tri & Possible H&S Breakout?Possible 4yr H&S continuation and 4yr Symmetrical Triangle. Long Term; long $100 Short $40
Long XLE & Long Energy for 2018Long term bear flag but it should rally til Q2 or end of 2018 before heading down.
Some other energy names that I longed already broken out to the upside. Energy stocks are going to outperform oil in 2018.
