Where I'd like to buy IQ again

Finally IQ has seen a nice dip most likely due to profit taking on the online retailer sales tax news.

My guess is she continues a bit lower, especially if the low of June 15th's candle ($37.57) is taken out.

Here is my current plan to initiate a new position on the way down.

Note

First entry hit. 32.40 missed by 20 cents. I did sell some July $30 puts near the low yesterday for $1.90. They are already at $1.15.

Trade active

I decided to go with selling puts to take advantage of the high IV of IQ. First position is $30 July puts for $1.90. I will be looking to enter $20 > $2 or $25 > $4 Jan 19 puts

Note

The past few days price action is telling me she wants to settle around $30 before making a push back up to the ATH.

Trade active

Sold x3 $20 Jan 19 puts for $1.70

Note

Will look to sell 3-4 more of the same puts if IQ reaches $28.

Note

Covered the $30 July puts for $0.90 yesterday. Still holding the $20 Jan 19 ones.

Note

Trying to close the $20 Jan 19 puts at $0.90 for a 47% gain.

brianweber

Buy higher and sell higher, and manage your risk to make more than you lose!!

Also on:

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.

brianweber

Buy higher and sell higher, and manage your risk to make more than you lose!!

Also on: