$EDU short put vertical 73% PoP for credit at support
EDU short put vertical 73% PoP for credit at supportNew Oriental Education & Tech Group had a big move and a big correction.
It's time to playing some bullish move.
Weekly timeframe:
Oversold on weeky and on daily too, sitting on the bullish trendline.
Daily timeframe:
Oversold too, bullish divergence.
Playing short put vertical here, because IVR is relative high: 60.
Max profit: $236
PoP50: 73%
Profit Target relative to my Buying Power: 30%
Max loss with my risk management: ~$150
Req. Buy Power: $764 (max loss without management before expiry, no way to let this happen!)
Tasty IVR: 60 (relative high)
Expiry: 24 days
Buy 4 EDU Jul16' 5 PUT
Sell 4 EDU Jul16' 7.5 PUT
Short put spread for 0.6cr each, because IVR is relative high.
COMMENT: Because of very low RSI and daily divergence it could be a good choice into my investment bag/portfolio too.
Stop/my risk management: Closing immediately if daily candle is closing BELOW the box, max loss in my calculations in this case could be 150$. Probability of loss in this way: ~27% .
Take profit strategy: 65% of max.profit in this case with auto sell order at 0.20db. Probability of profit this way: ~73%.
Of course I'll not wait until expiry in any case!
If you liked this article, check my other ideas.
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✔ GEX ✔ IVRank ✔ CALL/PUT skew ✔ Volatility✔ Delta curves
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REAL Options metrics for over 200+ liquid US symbols:
✔ 𝗔𝘂𝘁𝗼-𝗨𝗽𝗱𝗮𝘁𝗶𝗻𝗴 𝗚𝗘𝗫 𝗹𝗲𝘃𝗲𝗹𝘀
✔ GEX ✔ IVRank ✔ CALL/PUT skew ✔ Volatility✔ Delta curves
👉 7-day TRIAL 🌐 TanukiTrade.com
Related publications
Disclaimer
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Boost up your charts with Options PRO!
REAL Options metrics for over 200+ liquid US symbols:
✔ 𝗔𝘂𝘁𝗼-𝗨𝗽𝗱𝗮𝘁𝗶𝗻𝗴 𝗚𝗘𝗫 𝗹𝗲𝘃𝗲𝗹𝘀
✔ GEX ✔ IVRank ✔ CALL/PUT skew ✔ Volatility✔ Delta curves
👉 7-day TRIAL 🌐 TanukiTrade.com
REAL Options metrics for over 200+ liquid US symbols:
✔ 𝗔𝘂𝘁𝗼-𝗨𝗽𝗱𝗮𝘁𝗶𝗻𝗴 𝗚𝗘𝗫 𝗹𝗲𝘃𝗲𝗹𝘀
✔ GEX ✔ IVRank ✔ CALL/PUT skew ✔ Volatility✔ Delta curves
👉 7-day TRIAL 🌐 TanukiTrade.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.