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FXI trade ideas

Short FXI along with SPY for a correction (Week of Sept 25)FXI had a strong week bounced off weekly cloud. The bounce is much due to USDHKD weakness as PBOC stepped in to intervene the weakening HKD. However, that costs foreign reserve and its not sustainable. With my idea of short SPY the next week. The bounce should fade away. Weekly we can see a wide green bar but with volume lower than last week. This is either short covering or bears waiting to short at higher level. I suspect it will go down along with the falling widened wedge to test green cloud support. After that, just like SPY, a strong buying opportunity all the way to the top, where the peak will be set. China and U.S trade news just came out this weekend. Suppose buy rumor sell the news. The rumor previously was bought and my thought is the news will be sold. I linked to my previous short FXI idea. It is still in play, although a decent bounce.
AMEX:FXIShort
by KeyTrade
FXI - China large cap - bullish 5th wave?There seems to be so much divergence at the moment between different indexes/countries/markets that, for me at least, it is really difficult to try and work out what is going on. According to this count I am expecting a decent 5th wave to take this etf higher but at the same time I am seeing a correction due in the US indices. Confused. I am. Thank goodness the markets always provide the answers ......eventually. I would certainly like to see some decent confirmation before I jumped on board this one...
AMEX:FXILong
by tomj2417
TRADE IDEA: FXI AUG/OCT 41/36 "SCAREDY CAT" MONIED CALL DIAGONALOn occasion, I like to take small directional shots without hanging myself too far out there from a buying power perspective because I lack directional conviction or (more often), I'm working a small account where going full on covered call just isn't an option due to buying power effect. FXI has come quite far off off highs and doesn't appear hugely inclined to stop falling, at least in the short term. Naturally, trade war fears could quickly evaporate, and it could rip back up; alternatively, they may escalate, prompting a further sell-off. There are various ways to play my indecision, one of which would be to short straddle and/or strangle the underlying, but the background implied volatility isn't all that great here at 26.9%, so it isn't all that sexy as a pure premium selling play, so I have to think of something else. One option would be to short put at the 30 delta 40 strike (the Aug 17th's paying .64 with a break even of 39.36), but that's going to cost me roughly 20% of the short put strike (on margin) in buying power and/or invoke full notional value if cash secured. Alternatively, I can just money the covered out of the box by selling the Aug 17th 40 monied covered call (35.97 per one lot; 35.97 break even; 4.03 max profit on call away). Naturally, that's going to hang up 35.97 in buying power, even though the pure dollar and cents payout on call away is quite attractive (11.2% ROC). If you don't want to go that big buying power wise, but potentially realize a similar ROC percentage metric (~10%), there's the "scaredy cat," monied call diagonal with the buying power effect of less than 15% of the full-on covered call ... . Metrics: Max Loss on Setup: $455/contract Max Profit on Setup: $45/contract (9.9% ROC) Break Even: 40.55 vs. 42.08 spot Delta: 22.36 Theta: .86 Notes: As always, there's a downside to these. Realizing max profit with a monied generally requires that you wait toward the very end of the front month expiry for all the extrinsic to bleed out of the short, and you can't just "let it lay" as you would potentially with a covered call. Instead, shoot for taking off the whole setup toward expiry (assuming that the short call remains monied) at .05 short of max or consider rolling out the short call "as is" around 4-10 days until expiration for additional credit if you want to milk/reduce cost basis in the setup further.
AMEX:FXILong
by NaughtyPines