XAGUSD H&S waiting for confirmation 20.00 targetWaiting for weekly close above 18.328 to confirm next leg up to 20.00.
Gold/Silver ratio may also be forming a bearish H&S formation which may signal silver bullish bias to persist through 2020.
Usually a bad sign for US stocks.
You can view my other charts for long VIX short gold/silver ratio for reference through my profile.
I'm long silver through micro cap Aussie miners SVL, IVR which are highly correlated with silver price. Will add to positions next weeks if above silver closes above 18.328 on weekly as discussed.
Good luck all.
IVR
ACB Long ATM StraddleCannabis stocks have the possibility to move a lot in a short period of time, as regulatory changes on whims have huge impact on the market size to which Cannabis companies can sell their products. Although our stance is that the cannabis industry is likely to become even more volatile as more regulatory developments and sector-wide shake-outs leave only the leading firms, the reason we are particularly interested in the ACB long straddle is because of the low IVR.
We are entering into a near-the-money straddle on $ACB by longing the July calls and puts with a strike of $7.50, for a $.70 debit. The breakevens are below 6.80 and above 8.20. As a long straddle, the maximum loss occurs if the stock price S is at the strike k of 7.50 at maturity in July. Taking long positions on both of these options is very cheap because the implied volatility is subdued -- with an Implied Volatility Rank of 4.3.
Also, Aurora in particular has not joined big partnerships, contrasting the alignments with Canopy Growth ($CGC) and Constellation Brands ($STZ), Cronos Group ($CRON) and Altria ($MO), Tilray ($TLRY) with Anheuser-Busch InBev (BUD) and Novatris ($NVS), and HEXO($HEXO) with Molson Coors ($TAP). Announcement of any partnership, which is likely as billionaire private equity specialist Nelson Peltz recently joined with the intent to line up possible partners, would have a huge impact on the stock price. In January, Aurora Chief Corporate Officer Cam Battley told Business Insider that he would be looking to release “hemp-derived CBD strategy” into the U.S. market in the “next few months” in January. Five months later, we still don’t know what the surprise is. It could come within the next few months.
Bullish Trade of the Week selling put SNAPIf Pandora was a good candidate for a buyout then SNAP surely can be scooped by the big dogs in the Tech space . Selling a Dec21 6 put for .60 Tasty stats POP 57% P50 70% theta .48 Willing to take the shares at this price and sell calls against especially with current IVR at 91%
Implied Volatility Rank Indicator (IVR)When trading future options, you dont have built in implied volatility. You need to calculate the IV by calculating (volaCloseToday - volaLowest-52weeks)/(volaHighest-52weeks - volaLowest-52weeks). If the IVR is above 40%, then you should think about checking options premium, since premium is currently higher as in former days. In order to see, whether the Volatility Rank is above 40, the color of the line is green when over 40 or red if IVR is under 40.