After a couple of down days in oil OIH have been affected. Now with an Implied Volatility rank of 27 it gives us a chance to sell some premium.
A big lizard (Straddle with no upside risk) is a nice probability trade to do in case it decides to bounce back up.
Trade price $1.24 per contract
The trade:
Sellthe Jul21 24.5 Call
Sell the Jul21 24.5 Put
Buy the Jul21 25.5 Call
Break even is 23.26
Probability of profit 70%
A big lizard (Straddle with no upside risk) is a nice probability trade to do in case it decides to bounce back up.
Trade price $1.24 per contract
The trade:
Sellthe Jul21 24.5 Call
Sell the Jul21 24.5 Put
Buy the Jul21 25.5 Call
Break even is 23.26
Probability of profit 70%
Trade closed: target reached
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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.
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.