IBB is up 22% in 20 days. I believe this is unsustainable in the near term (next 2-4 weeks) and believe the stock should retrace. Right now we are testing last highs and should be a good entry place for a quick short term trade. To give myself a little buffer, I am selling the stock for a break even at $112.91 by selling the 112 call/buying 115 call for 91$ per contract. If the stock stays below 112$, my option will expire profitable for 91$ within the next 30 days.
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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.