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EWZ trade ideas

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
The Week Ahead: EWZ, MJ, XLE, IWM/RUT Premium SellingHighly Options Liquid Single Name With Earnings in the Rear View Mirror Ranked by 30-Day Implied With a 30-Day >50% and a Share Price >$10: FCEL (0/104) M (11/75) CCL (0/59) PLAY (0/59) CHWY (0/52) Highly Options Liquid Exchange-Traded Funds Ranked by 30-Day Implied With a 30-Day >35%: EWZ (8/73) MJ (2/51) XLE (0/48) XRT (2/41) GDXJ (6/41) LIT (18/38) XBI (36/36) Broad Market Exchange-Traded Funds Ranked by 30-Day: IWM (1/27) QQQ (0/23) SPY (0/16) Musings: If it isn't obvious, the number of exchange-traded funds with a 30-day implied volatilty percentage >35% have dwindled dramatically over the past several weeks, limiting premium selling opportunities if you're not interested in playing single name. That being said, it's not a bad time to relax a little bit, allow plays you've put on in higher volatility to play out, and wait for "the next one," whether it be in the market as a whole, or in a given sector. Since I've already got plays on in EWZ and MJ (See Posts Below), I may consider something in XLE, with the caveat being that its implied is low in the 52 week range, with the monster volatility pop we had in 2020 still holding sway over where current levels are relative to where they've been. All that having been said, I'm in the mode of generating "cash flow" regardless of the volatility environment, and so will likely continue to programmatically sell my weekly, 45 days 'til expiry short put in the broad market exchange-traded fund having the highest implied volatility, which here is IWM, along with adjusting any rungs of my longer-dated SPY short put ladder to window dress, take profit, or add units to generate credit and keep that theta pile on and burning. I'd naturally prefer higher volatility to muck about in, but can't have everything.
AMEX:EWZ
by NaughtyPines