Justification: This comes alongside an /ES spread I sold a few minutes earlier in another account. Intention was to sell into pre-market close weakness.
- Directional Play: Yes. Adding long delta into a strong close prior to this extended weekend.
- Technical: Below 20 and 50 MA.
- Fundamental: Earnings continue to improve; Fed really supportive; jobs data positive; ISM manufacturing higher; market participants equally split between bullish and bearish ; virus data (if correct) shows the growth in virus cases slowing; trade going in a positive direction; world economy growth has persisted; and so on. If market sells-off or volatility picks up, I'll look to manage (e.g., roll, reduce delta's, and so on).
If/Then:
- Take profit? 50% of credit received
- Where will you hedge? $3110
Strategy Details:
- Short and Long leg: $3100, $3050
- Short Leg Delta: 0.09
- Duration: March 31
Disclaimer: This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve (myself especially), so if you see something wrong, speak up.
- Directional Play: Yes. Adding long delta into a strong close prior to this extended weekend.
- Technical: Below 20 and 50 MA.
- Fundamental: Earnings continue to improve; Fed really supportive; jobs data positive; ISM manufacturing higher; market participants equally split between bullish and bearish ; virus data (if correct) shows the growth in virus cases slowing; trade going in a positive direction; world economy growth has persisted; and so on. If market sells-off or volatility picks up, I'll look to manage (e.g., roll, reduce delta's, and so on).
If/Then:
- Take profit? 50% of credit received
- Where will you hedge? $3110
Strategy Details:
- Short and Long leg: $3100, $3050
- Short Leg Delta: 0.09
- Duration: March 31
Disclaimer: This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve (myself especially), so if you see something wrong, speak up.
This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve (myself especially), so if you see something wrong, speak up.
