My idea primarily based on the fact that prices for commodities like oil, copper iron ore are falling. Australia is dependent of export these raw materials. to china and rest of the world. Similar scenario is visible in Brazil, Venezuela, Norway.
I think we will see a dip in the $USDOLLAR accompanied by an increase in iron ore prices. This will drive the price of $AUD higher.
I currently only sell Credit Spreads, I just like the idea of getting money versus Debit Spreads where I have to pay. Plus I am still a "beginner" when it comes to Credit Spreads. I want things simple. I wait for what I think is a short term top and sell some Bull Call spreads on SPX not SPY (SPX in a retirement account settles differently and they can't call...
- Vale jumps today from level of previous low despite weak Chinese PMI data (on the heels of oil break out). - Name heavily oversold on Chinese fears, plummeting iron ore prices, Brazil uncertainties, etc., selling might be overdone. - Deeply undervalued even with depressed circumstances taken into account. - High risk idea as many part of the equation of Vale is...
BestBuy has been consolidating since the beginning of July. Earnings are due tomorrow before the opening, and our IV% is at 56%, so I am looking for a play here to collect a credit. Historically looking at BBY we can see usually see a slightly bullish move after earnings (EPS, which is usually beating estimates). Because of this, and being at the top of this...
Before earnings I sold puts 400 & calls 500. NFLX made in afterhours only little move. I awaited biger show.