Hi guys, according to my strategy we have 4weeks 15% strikes, 93% probability of success. For this Iron condor with 5$ spread for each side there is a max profit of 100$ and a max loss 400$: if you are new in Iron condor you should find this R/R ratio very poor compared with forex, but we have very high odds at our side! 93% to get the maxim profit, plus 5$...
3 Fibonacci price relationships in the 109-107.2 area .618 extension red dot swing low 1.0 extension of blue dot swing low .618 retracement of move from March low VWAP from March low has acted as support throughout the move higher
This downward valuation of e&p oil stocks, vs actual oil, has reached stupendous levels. Something has got to give. What and when will a catalyst appear to correct this?
Modest double bottom with upside divergence on OIH bought some 11.5 puts that expire oct 11 for 11c.
Support must hold at its significant level at 13. Breakout point level at 15.
Instead of selling a short strangle, it's better to buy some OTM contracts at next to nothing to make the trade efficient in terms of buying power. The breakeven points on the trade aren't GREAT, but, the trade is pretty low risk. If it works, great and if not, hey, we'll get 'em next time.
I find it hard to buy fundamentally, but technically it is giving a buy signal on an bullish rsi divergence basis.
Above the blue shaded region want to be long for a short timeframe move. RR is there. However, risk adjusted returns may be better in sectors with better relative strength. Trade may not be suitable for all risk profiles
AMEX:OIH tried to breakout of its range but could not do it. As the adage says, "There is nothing more bearish than a failed breakout." And, though the concept of a failed breakout can be debated, this tried to move upward but could not and has two strong bearish days behind it pushing it below previous support. This is looking like a very clear downward move.