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XLE trade ideas

Opened (IRA): XLE April 19th 88 Covered Call... for a 85.43 debit. Comments: Looking to attempt to grab the March dividend, which has been averaging around .80 over the past four distributions. Metrics: Buying Power Effect/Break Even/Cost Basis in Shares: 85.43 Max Profit: 2.57 ($257) ROC at Max (ex. dividend): 3.01% ROC at Max (w/dividend): 3.94% (assuming an .80 distribution) ROC at 50% Max (ex. dividend): 1.50% ROC at 50% Max (w/dividend): 2.44% (assuming an .80 distribution)
AMEX:XLELong
by NaughtyPines
XLE Put credit spread exp Feb 23, 2024XLE came down into, touched and wicked the weekly close of the week 12/04/2023 yesterday. I did not have an alert set so I missed the first opportunity. It wicked it on the daily chart. So this morning around 10 I saw it was near the lows of yesterday again. and the 2 weekly levels around 81 also held price in mid Dec 2023. I sold the 80 Put strike at 3 wide down to 77. The chart has some 5min FVGs inside the 81 range in Pink bands And the Daily levels in Blue with a final weekly level at 77. So yes, price could reenter below 81, but that May-July 2023 price action looks like a balanced price range from 77-81 to me. Which is why I sold 80. #### Sell to Open Symbol XLE Open Date 1/9/2024 Put or Call Put Expiry Date 2/23/2024 Short Strike 80 Long Strike 77 Price to Open 0.62 Min Width Multiple 6 Risk Ratio 3.84 Return on Risk 26.1% Opening DTE 45 1 Day ROI% 0.58% Max Annual ROI % 211.3% Buyback to Close Open to Roll Closing % Cost on Opening Credit Net Roll % on Opening Credit Closing Date Closing Price Closed Margin ROI % Closed Annual ROI %
AMEX:XLELong
by claypuzzle
XLE Bull Put spread at intraday pullback after-1 sig testSymbol XLE Open Date 11/6/2023 Bear Call or Bull Put Put Expiry Date 12/22/2023 Short Strike 80 Long Strike 78 Price to Open 0.30 Min Width Multiple 4 Risk Ratio 5.67 Return on Risk 17.6% Opening DTE 46 1 Day ROI% 0.38% Max Annual ROI % 140.0% Longer term is bullish on XLE. Has engaged -1 sig Buying Oct 5 which would have been the best time and place to sell puts. Engaged again 10/26 through 10/30 and pushed away. And it pushed up to the VWAP of the bullish model. I would strictly say that the -1 sig has been engaged 6 days already, but the fact that it pushed up to the VWAP and sold off tells me that the buying algo is still in play. Sold Puts at the 80 strike below -2 sig on the bullish model. Overall, I do think XLE goes higher into the Bearish +1 sig near 89 and gives time for the 80 puts 46 DTE to die. Decent entry at .30 but the high trade of the day was .34. This was just above the 15 min chart -1 sig low which held the session beautifully. I don't expect that I could've gotten .34, but perhaps .32 was possible AT the 15min chart -1 sig low. If XLE pushes in the next few days down past 84 I will roll further out, and maybe 1 or 2 down. If XLE eats time and rallies up to 89 I will do nothing. If XLE gets a break above 89 and attacks 89.25 I will consider selling Calls at the 94 strike. SPY is steady today and sustaining it's hard Bull rally from last week, so XLE is not in sync with it.
AMEX:XLELong
by claypuzzle
1
XLE 3d 1H 2024 XLE has been trading in this range for the better part of the last 2 year. The way I see it, the 82-85 price range determines how this moves through 2024. Once it trades side way in the zone for a bit, the way the price breaks will determine the next move. If it goes up, I'd expect something similar to the highlighted Q4 2024 -Q1 2023 price action. Breaks out, and makes the closest thing to wykoff distribution top. If it goes down, expect a retest of the underside triangle, then could turn into an overthrow, creating a bear trap then following with a breakout. Following a similar path to 1. If it breaks down, it finishes a head and shoulders, with the red line acting like the neckline. Look at XOM, CVX to hint at what this does next. If the turmoil in Israel/Gaza widens there is a chance the price of oil and energy stocks reflect the increased supply risk.
AMEX:XLE
by cmerged
XLE Week of Dec 18I am bullish on Oil generally, but I am expecting more of a range-bound week with energy next week. It is in a neutral range, with more accumulation resting towards 89: So we will likely end up drifting towards this target range. Overall, generally neutral on energy itself, but I do expect a drift up, especially if the market maintains the bullish bias. Watch for a break and hold of the threshold. Its very important with XLE that you wait for confirmation of a hold, because it frequently gets slapped back down or up with breaks: Por ejemplo:
AMEX:XLE
by Steversteves
2
Multiple Attempts to Break-out thwarted by Resistance on XLEFor the past year or so, AMEX:XLE keeps getting rejected at the top of this triangle. In my experience, if Price Action knocks enough on the door (be it support or resistance), eventually the door will be open and price action will break-through. Steps I noticed on an Impulse Breakout: - Price Action smashes through resistance - Price Action looks very bullish - At some point the price retraces and re-tests the lower level - The trend will either be confirmed or invalidated based upon A) if previous resistance is now support, the bullish momentum will likely continue B) if price falls back through the breakout point, and closes for a candle or two, the breakout is invalidated Markets are designed to confuse. I've seen several breakouts retest then fail falsely, only to continue on a bullish trajectory. Let's apply the above logic to the 2021 time frame 1. Resistance at the top of that wedge is hit in Q1 2. During Q2 the price attempts to break out, but eventually fails 3. The lower end of the shape acts as support, sending price action up with more momentum, 4. Q4 the breakout happens and gradually PA falls back down, Retests the top of the range for a single candle, then rips up strongly to the upside.
AMEX:XLE
by b6d1016fdeb149be865b678a8ac935