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EWZ trade ideas

Rolling (IRA): EWZ December 17th 33 Short Call to January... for a .22/contract credit. Comments: Rolling the short call leg of my EWZ long call diagonal on approaching worthless (it's gone nearly no bid), the long leg of which is at the 25 strike out in June. (See Post Below).* My cost basis in the setup is now 6.37 with a 31.37 break even with a profit potential of the width of the diagonal (8.00) minus my cost basis (6.37) or 1.63 ($163/contract). I considered just allowing the short call to expire worthless, waiting for a bounce, and then re-covering the long call leg, but you never know if it will continue lower or sideways, at which point you say to yourself, "Well, if only I would've remained covered, I'd have reduced my cost basis further."
AMEX:EWZLong
by NaughtyPines
Another floor dropped under EWZ. EWZA dropping ETF with a beautiful impulsive A Wave. Since we broke Floor of Wave A, C Wave is confirmed by definition. And we now look to how low this one is likely to go. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
AMEX:EWZShort
by Rykin_Capital
Rolling (Margin): EWZ December 17th 25 Short Put to January 21st... for a .32/contract credit. Comments: Rolling here at greater than 50% max for a realized gain and a credit while keeping buying power effect essentially the same, since I'm rolling this "as is" (i.e., from the December 25 strike to the January 25 strike). I originally collected .58 in credit/contract (See Post Below), so have collected a total of .90 ($90)/contract with this roll relative to a current short put value of .57, so have locked in .37 ($37) of realized gains so far. 30-day implied is still pretty decent at 41.3%; otherwise, I'd probably just leave it alone running into expiry.
AMEX:EWZLong
by NaughtyPines
Turning point for Brazilian Equities | EWZThe MSCI Brazil index has been the worst performing major market in the world since the beginning of 2020 even as the commodity price rally has helped drive a surge in earnings and dividends. Brazilian stocks have underperformed significantly due to excess fiscal spending, rising inflation, concerns over next year's election, and a collapse in iron ore cost. However, these risks are manageable today due to the country's improved external picture and the country's assets should outperform over the coming years. While the EWZ pays a dividend yield of just 3.0%, the 7+% forward dividend yield on the underlying MSCI Brazil suggests that EWZ investors can expect the yield to soar over the coming months. Brazil is a commodity based economy: Leader in sugar, soybeans, coffee, beef, oranges, ethanol, and iron ore with EWZ having reasonable diversification, but somewhat overexposed to Banking (24%) and Materials. (22%) With Iron Ore overdue for a bounce and a strengthening Brazilian Real, I believe the outlook for Brazil is becoming more favorable. On the weekly, RSI is starting to up tick out of oversold conditions and bearish momentum is bottoming. Want to see a break of the descending trend line before entering a trade. EWZ is on close watch. Risks: - Tighter monetary policy as the Central Bank of Brazil has been actively raising rates in an effort to contain inflation - Weakening commodity prices, particular Chinese Iron Ore. - USD strength as risk off sentiment is increasing ___________________________ ✅ If you found this idea useful, hit the like button, follow & share. ✅ Follow for swing ideas, trade setups and weekly 0DTE income trades. ✅ Don't hesitate to post comments, opinions and questions. 💸 WHAT IS 0DTE TRADING? The Chicago Board Options Exchange ( Cboe ) lists weekly options on the S&P 500 Index (SPX) with expirations every Monday, Wednesday, and Friday. Most options expire worthless and we take advantage of this by selling credit spreads to collect premium. This strategy allows us to profit if the market moves up, down or doesn't move at all. See profile to learn more!
AMEX:EWZ
by 0dteTraders
Opening (Small Account): EWZ June/Nov 25/32 Long Call Diagonal.. for a 6.26 debit. Comments: Here, doing a similar trade to the one I did in my IRA (but with far fewer contracts) (See Post Below), buying the long-dated 88 delta call in the June expiry and selling the at-the-money call in November to create what amounts to a synthetic covered call. I paid 6.26 for a 7-wide, so my max profit potential is the width of the diagonal (7.00) minus what I paid (6.26) or .74 ($74), which would be a return on capital of 11.8% assuming the setup converges on max (7.00). Immediately after fill, I entered an order to take the whole shebang off for 6.95 if that happens, which is a nickel short of max. Naturally, if that doesn't happen as we approach expiry of the front month, I'll roll the short call out for a credit, reducing my cost basis further, as well as improving my break even (which is currently the long strike (25) + 6.26 = 31.26).
AMEX:EWZLong
by NaughtyPines
Opening (IRA): EWZ June/November 25/33 Long Call Diagonal... for a 6.79/contract debit. Comments: Taking a directional shot on weakness, with some opportunity to reduce cost basis in the setup via roll of the short call if I don't get the move immediately. Here, buying the 90 delta in the back month, selling the at-the-money in the front one, resulting in a 31.79 break even relative to the 32.58 where it's trading at the moment. Paying 6.79 for an 8-wide, with max profit being the difference between the width of the diagonal (8.00) and what I paid (6.79) or 1.21 ($121), which would be a 17.8% return on capital as a function of buying power effect, assuming price for the entire shebang converges on 8.00.
AMEX:EWZ
by NaughtyPines
EWZ$EWZ is literally a textbook channel play. Look at this, just admire it for a second. It couldn’t be more defined, more perfect. We’re currently seeing a beautiful rejection off the bottom portion of this massive channel on the daily candlesticks, we can expect to ride this out all the way until $42.02+ - simple as that. The RSI is almost oversold at 35.25, which means we have the room we need for some upside movements. Buying volume is increasing, and the candlesticks are at the bottom of the Bollinger bands. The last few days, they finally closed within the lines, which could indicate a change in momentum towards the upside. If it changes direction and closes below the channel’s previous low of $33.90, I’ll be going for a short position. But if it closes above $34.80 like we’re expecting, we have nothing but tendies at the end of this rainbow. Close <$33.90 -> Sell | Close >$34.80 -> Buy
AMEX:EWZ
by SmoothJB