I trade options and this is by far the best place to be for 2024
I trade options so I look for the cheapest way to make the most amount of money. The most Delta for the least Theta. Last year it was MSTR, this year it is HYG and JNK. Record short positions on HYG started in March 2023 and it still continues today.... for example there are 20,000 puts on HYG expiring this Friday the 29th and 1370 puts.... that's a P/C of 14.54/1
Max Pain on JNK the week of 1/19 is 104, that implies a 10% move in junk debt in just 4 weeks, this would be insane. I wanna be apart of that and I am closing all other options trades I have except my ARKK Calls and playing this.
1800 HYG Calls $79 March 15th cost $79,000
1000 JNK Calls $96 March 15th Cost $78,200
I will update when closed
Max Pain on JNK the week of 1/19 is 104, that implies a 10% move in junk debt in just 4 weeks, this would be insane. I wanna be apart of that and I am closing all other options trades I have except my ARKK Calls and playing this.
1800 HYG Calls $79 March 15th cost $79,000
1000 JNK Calls $96 March 15th Cost $78,200
I will update when closed