We can enter longs in WFM here, back at weekly mode support, as well as a Key Earnings Level.
Since Vix is high we can sell puts at the money for easy returns, for instance, December expiry puts or calls.
We can take a long stock/short calls position alternatively, but puts should be a good idea for sure.
Buy/write: 35 strike calls / Jan '17 20th expiry. Determine the amount of shares based on stop distance, risk 0.5-1%.
Write: at the money puts with same expiry.
Good luck!
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: www.tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.57% on such information.
Since Vix is high we can sell puts at the money for easy returns, for instance, December expiry puts or calls.
We can take a long stock/short calls position alternatively, but puts should be a good idea for sure.
Buy/write: 35 strike calls / Jan '17 20th expiry. Determine the amount of shares based on stop distance, risk 0.5-1%.
Write: at the money puts with same expiry.
Good luck!
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: www.tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.57% on such information.
Comment:
Seems promising.
Comment:
Relative strength is strong in this one. Market down, WFM goes up and closes above weekly resistance.
Trade closed manually
