XLU is ranging around $46-$47 right now and developing a shampoo pattern (head & shoulders) on the 1 Year chart. I sold a straddle and I'll get out as soon as I can.
Each support and resistance has a roughly twin shoulder going back to Feb.
Temporarily neutral to allow the formation to develop.
The EURUSD is at a all time low and there's not much in terms of support down here on the yearly chart but it looks like any bounce that EUR will hit down here will be a hard bounce or stop flat on the wall.
I've sold a PUT further down.
The IVR is high in SPY. The VIX is trending up slightly. Either way I like how wide I've gotten my strikes, so I've sold this IC.
Now it's just a waiting game for days to pass and theta to come off.
I closed my NOV strangle and reopened my QQQ strangle in DEC 1 strike wider than before. My opinion is it will stay inside my strikes allowing theta decay.
2 weeks ago I sold the 0.715 PUT in /6C ( D61! ). I was looking for it to range back down and initially it did but never hit my target profit (2 ticks away). Since then it's run away from me a bit and followed the Light blue line just like TRON taking the Light train to the exit.
As the Canadian dollar is a proxy for Crude oil also CL1! I'm looking for Crude to...
I sold a 1800/1600 vertical PUT spread. If I waited till now for a down move, I could have sold it for a little more but I don't have a crystal ball.
/ES definitely won't touch 1800 today because this level out outside of the level 2 lock limit.
The premium in YEN have been increasing and even though it's on the down move in the range, the calls can be sold for a nice premium. In the immediate term I would like YEN to move up to my resistance area. If YEN has to move down, I would like it to move down slowly.
I chickened out of my Widow Maker spread and closed out my position. I replaced it with a 2.7 / 3.6 strangle giving me a total of 2 strangles on. My plan is to strangle the widow maker and make some gains or at least scratch the entire trade.
Horrible puns intended.
On 18 OCT, 10 days ago I shorted 0.8 call in the futures options and waited for premium decay.
Just now at midnight, I bought it back for 85 tick gain.
I'm hoping to reload this soon on a up move.
I bought this Widow Maker spread where I thought it was at a low. Apparently it's lower. I sold a PUT to reduce the cost basis.
Nothing to do but hold through the draw down.
My cost basis is 0.210
