VIX daily has settled on resistance. Stocks have recovered the losses from the open for the week but there is still a chance of further downside in stocks if this resistance on VIX was to be broken.
SP500 Daily Chart
Did you like my title? "The end is near". BUT NOT YET. I'll explain. First on this daily chart I would like to point out that we dropped a little bit over the last couple weeks. The hidden bearish divergence on the RSI below played out. But as you can also see, we have a larger hidden bullish divergence that has formed. Look at the last...
... for a .77 ($77/contract) credit.
Another "Term Structure" trade (See Post Below).
Farther out in time than I like to go, which means I'll probably regret it in short order.
With fourth quarter earnings announcements trailing off majorly here, there isn't much in the way of earnings to play, with the earnings of note for premium sellers being FDX, which announces on 3/21 after market close, and NKE (same).
FDX is toward the top of its implied volatility range over the past six months (85), with NKE in the 63rd percentile over that...
Looking for a breakout in volatility. We have FOMC coming up and quadruple witching day on Friday. VIX daily has been holding support. MACD right on the center line.
Ugh. Doing my weekly market review/screening and there is literally nothing high IVR/high IV to play ... . Nada ... . Zilch ... .
One option is to sell puts in one of these "just high IV" underlyings:
VRX: April 21st 11 goes for .56
AKS: April 21st 7 goes for .31
AMD: April 21st 13 goes for .66
WLL: April 21st 8 goes for .28
CLF April 21st 8 goes for .34
X:...
Weekly Chart
I just thought I would do an update to where I think we are in the broader markets. 1st I thought I would post this weekly chart so you can see my count as to when the "BIG CRASH" might (might take place). I am thinking not until the next presidential election. That's just a guess. Nothing special about it. But I think the Trump policies, once...
Unfortunately, there isn't much next week earnings wise that renders itself to quality premium selling, with nothing appearing in screens where I'm looking for underlyings that are not only liquid from an options standpoint, but also whose implied volatility is at least in the 70th percentile over the past six months and background implied volatility is greater...
With earnings in TGT, BBY, and LOW, it's no surprise that implied volatility in the retail ETF, XRT, has ramped up here a bit (sixth month implied volatility rank is 73/implied volatility is 22).
That being said, I'm really only looking at BBY for a play given its implied volatility rank/implied volatility (93/48). HTZ also announces earnings and has the right...
The VIX is showing signs of stabilisation within the November 2016 bear trend as bearish stochastics and momentum studies continue to unwind.
Strengthening in the Tension Indicator (not shown) also suggests improvement, with further downside risks expected to remain limited. A break below psychological support at 10.00 cannot be ruled out, but further supports...
I had published an idea while ago and now after I revisited the IHS target I realized I have to correct it.
I thin $2400 is a great psychological level as well!
