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EWZ trade ideas

EWZ Downward Channel BreakoutEWZ just broke out of a downward channel at ~$30 on Friday. $EWZ is an ETF of the Brazilian market with stocks like VALE SID NTCO GOL AZUL ITUB BBD in the index. EWZ has previously moved with the domestic "value" trade. EWZ broke out of a downward channel after forming a double bottom. First Target $32, Second Target $33, then looking for relative highs above $33.75 GOL Chart BTO $EWZ 9/4 $31c avg $.50, 9/18 $34 avg $.16 BTO $GOL 9/18 $8c avg $.25
AMEX:EWZLong
by UnknownUnicorn7308096
Brazilian ETF: Descending Triangle for Latin American NationGlobal stocks had a nice bounce in early June, outperforming the S&P 500 by a wide margin as the “reopening” trade took hold and the Federal Reserve kept the spigots of easy money flowing. The MSCI Brazil ETF (EWZ) rode that wave higher at the time but has fallen flat more recently. Weakening of energy prices and a spreading coronavirus outbreak in the Latin American nation has also made matters worse. This has produced a descending triangle for the ETF, with a series of lower highs since June 8. Downside support is around $28.50. This creates the potential for bearish continuation if the lower price level is broken. Timing is unclear, and there could be some tests above $29.50 to the falling trendline. However, the overall setup could be interesting because EWZ has potential downside toward the low $20s if the current support level breaks.
AMEX:EWZShort
by TradeStation
1
OPENING: EWZ JANUARY/JUNE 15/26 CALL DIAGONAL... for an 8.40/contract debit. Metrics: Max Loss: $840/contract Max Profit: $260/contract Debit Paid/Spread Width Ratio: 76.4% Break Even: 23.40 vs. 23.30 spot Notes: A neutral to bullish assumption, IRA-friendly play in the weakened EWZ. I naturally could have gone short put (the June 19th 19 shortie is paying .63), but wanted the opportunity to make something decent if it totally rips away. In a cash secured environment, you'll get some buying power relief over going with the naked. From a delta standpoint, the back month is at the 89 delta; the front month at the 28, with the front paying just a smidge short of the extrinsic in the back month (which is why the break even is slightly above where EWZ is currently trading). The way to look at these is a form a synthetic covered call, with the back month 90 standing in for your stock.
AMEX:EWZLong
by NaughtyPines
EWZ at decision Point!Dear Investor, After falling about 60% from this year's High, the EWZ has started a correction movement in "W" shape. If the price goes above $26,50, I believe the share will return to trade between $30 and $35 and it'll close the first GAP opened by the coronavirus crisis. I started my LONG position in this share since $20,00. But, if you want to get in this trade, I think the better entry level is when the price breaks up the $26,50. Good investments for all. Best regards, Lucas Sampaio ________________________ Olá Investidor, Depois de cair cerca de 60% da máxima desse ano, o EWZ está fazendo um movimento em formato de W. Se o preço superar $26,50, acredito que alcançará a faixa de preço de $30 a $35, fechando o primeiro GAP desde a forte queda da crise do cornavirus. Eu já estou comprado desde os $20, mas se quiser entrar nesse trade, acredito que o melhor ponto de compra é após o rompimento do $26,50. Bons investimentos a todos! Abraços. Lucas Sampaio
AMEX:EWZLong
by UnknownUnicorn3769962
THE WEEK AHEAD: A PREMIUM RICH MARKETOPTIONS LIQUID EARNINGS ANNOUNCEMENTS: MU (77/112) NKE (74/103) EXCHANGE-TRADED FUNDS ORDERED BY IMPLIED VOLATILITY RANK: EWZ (91/132) USO (89/210) XLU (84/76) GDXJ (82/141) XLE (77/109) EWW (76/105) SMH (73/105) TLT (71/47) XOP (63/154) SLV (73/79) GLD (63/37) FXI (61/63) GDX (57/106) BROAD MARKET ORDERED BY IMPLIED VOLATILITY RANK: IWM (76/71) EEM (74/73) SPY (73/66) QQQ (73/60) EFA (54/53) VIX/VIX DERIVATIVES VIX: 66.04 /VX APRIL: 62.00 /VX MAY: 56.95 /VX JUNE: 49.95 MUSINGS: On Margin: As you can see by the chart showing the top five or so exchange-traded funds having the highest implied volatility ranks, this is largely a closely correlated sell-off. Because of this, I'm somewhat hesitant to pile into a bunch of nondirectional stuff simultaneously, if at all. If we get relief from the selling, these very same instruments could whip back to the call side in closely correlated fashion, leaving me with a bunch of tested call side; whereas now I'm just put side tested (and how). Naturally, this means I have to put up with being far more directional than I would ordinarily be, but these things happen and being patient and mechanical with how you manage current positions will be more productive in the long-term than going bonkers here and bailing out of everything in panic. Unfortunately, this likely means that I will be taking on far more shares of stock than I ordinarily like to hold on margin and then reducing cost basis over time via covered call. I'm always prepared for that, but being in stock on margin isn't buying power efficient, although you always have to plan somewhat for that possibility and go with the flow if taking on shares is really the best way to work yourself out of the trade. In The IRA: As pure luck would have it, leaving my SPY position monied throughout this nonsense (as well as erecting some additional call diagonals at market highs as delta cutters) has served me well. This wasn't particularly prescient or a stroke of genius; I was just doing what I felt I had to do to protect the largest element of my retirement portfolio at a point at which it made the most sense to do that and nothing else. Anyone else who did that and got lucky isn't a guru. No one saw this crap coming, and if they're saying they're a genius, well, I say you're free to call bullshit. Is this an opportunity to pick up things on your shopping list? Maybe. I've taken this opportunity to ladder some out-of-the-money short puts out in a few things that I've had on that list for ages -- XLU, IYR, EFA, and HYG; all dividend generators which have been just far too pricey to deploy the frustratingly large bit of dry powder I've had sitting on the sidelines for ages as the market inexplicably ground up to more and more ridiculous valuations. Will I get in at the best possible prices? The jury's out. I will be getting in far lower than at the market highs we saw just a few weeks ago (assuming price stays below the rungs of my ladders) and won't let anyone talk me out of the proposition that lower is always better in your retirement account even if I don't hit the lows perfectly. The basic strategy here, after all, isn't largely about share price; it's about assembling a portfolio that will pay out dividends regardless of growth and in which you can reduce cost basis over time via short call. It's three-legged: dividends, short call premium, and (if it happens) growth. If the grand arc of time has taught us anything, it's that growth may be an "average given" over the entire life of the market, but may not be over shorter time frames.
AMEX:EWZ
by NaughtyPines
5