If you're going to play anything next week premium selling wise, it's going to be in earnings, because that's all that's really out there volatility-wise. The VIX remains persistently low here, and running a screen for exchange-traded funds with >70% implied volatility rank, and >35% implied volatility yields absolutely nothing. Here's what showed up on my radar...
Bullish Kicker on daily chart trading close to 52 week low on high volume with Connors RSI(2) overbought at 94. Also was some big buys and an insider buy. I got in at 25.92 ADX is >30, TSI cross and above zero, and it closed above the 60sma. Also a case can be made for the formation of an intermediate impulse wave - starting wave three which will mean a move...
This one popped up earlier today as a high implied volatility play ... . Filled for a 1.83 ($183)/contract credit ... . I'll look to take it off at 50% max ... .
I've been keeping an eye on CAR and HTZ. Took a coin flip and went with this one. Jason C, Dean C, Paul B are in.
If HTZ gaps down, it will be in more pain. The red box is a bearish gap. The green zones / or boxes would be a bullish gap.
The strong gap up failed with high volume. Yesterday was the "last resort bullish candle" I 'feel' like. Since that candle's low got taken out with a gap and large volume (especially since today is a new Black Crow, I'm a more bearish than bullish Earnings is over on stock.
Spread is above strong resistance and the 100 SMA. The covered call is if you are in shares...
I am Long HTZ currently with 2 possible outlooks as depicted in my chart. What do you think? Up or Down from here?