The next new position in our Paid-to-Play portfolio is: [Read more…]
An Iron-Sided Short Strangle
An example of a PnL curve in an Iron Condor position.
In a Naked Short Strangle, we do not have a defined risk. We are holding naked short puts and naked short calls in which we could potentially suffer an unlimited loss in an extreme market move (or an extreme bout of stubbornly NOT executing our stop-loss plan!).
[Options P2P] Trade Alert: Closed XLB at Profit Target
We had a resting GTC order filled at our profit target in the Paid-to-Play portfolio today: [Read more…]
[Options P2P] New Position: XLP
The next new position in our Paid-to-Play portfolio is: [Read more…]
[Options Premium] The Economist Is As Good As Gold, Man.
JC had a great post this weekend about our favorite Magazine Cover Indicator violator — The Economist. Go give it a read and then come on back here.
Are you caught up? Good.
You read what JC said to do. Let’s do it. [Read more…]
[Options P2P] New Position: XHB
The next new position in our Paid-to-Play portfolio is: [Read more…]
[Options Premium] Chewing Through Short Interest
Strazza and I did The Flow show earlier this week in which one trade that stood out and caught my interest was a juicy short squeeze candidate.
Checking back on it today, the stock still maintains a short position greater than 20%. That means more than one-fifth of all shares outstanding are held by people with a short position. And if this stock starts busting higher, the only way traders holding a short position can end the pain is to buy the stock.
This can potentially fuel a rapid rise in share prices (see: Gamestop $GME circa early 2020).
I’m certainly not calling for a repeat of past meme stocks short squeezes here, but in this case, we’ve got a stock that’s chart is in the middle of completing a beautiful base and short holders are no doubt keeping their fingers near the trigger to exit this position quickly if we see some follow thru to the upside.
That creates opportunities for us.
[Options P2P] Adjustment to GDXJ Position
We’ve adjusted a position in the Paid-to-Play portfolio today: [Read more…]
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