0IJO trade ideas
OPENING: EXEL NOV 18TH 11 SHORT PUTHere, I'm looking to sell a touch of premium in an underlying that has both high implied volatility rank (99.6%) and high background implied volatility (99.2%).
Metrics:
Probability of Profit: 70%
Max Profit: $85/contract
Buying Power Effect: Varies by Broker.*
Break Even: 10.15
Notes: I'll shoot to take this off at 50% max profit. However, I could also see working it as a precursor to a covered call. For example, if price breaks 11 by expiry, I would either take assignment of the stock at $11/share (and then proceed to sell calls against) or roll the 11 down and out for additional credit and then look to take assignment at a more favorable price ... .
* -- When I do naked short puts, I operate on the assumption that -- worst case scenario -- I will be assigned stock at the short put strike. Here, for example, I will need $1100 of buying power (100 shares x $11/share) per contract to accommodate the assignment of shares should that occur.
EXEL Elliot Wave?Pretty new to this so I'm not investing any money currently, just learning. Does this appear to be an Elliot wave due for an ABC correction?
above cloud long term biotech good money flowabove all key ma s/adx trending/relative strength good/stop loss cloud close
above cloud biotech with good money flowstrong group/see in our book on amazon how to choose groups/above 50/cci and percent r upper range/adx beginning trend/stoc crossed/macd crossed/stop loss close in cloud/
