August 24, 2017

Trade Still Open

My latest trade has been open for 15 days which is at the high side of my typical trade (you can see this on the performance page on the site).

The trade has been open for as long as it has due to the continued oversold status and strong level of support that has existed in the QQQQ over the past two weeks.

Another up day tomorrow and indeed the trade will most likely be taken, potentially for a small loss or better yet a small gain. We will have to see what the technicals are stating Friday.

Overbought-Oversold levels for February 11, 2010

ETF Extremes Options Trading Strategy

* S&P 500 (SPY) – 50.2 (neutral)
* Dow Jones (DIA) – 56.9 (neutral)
* Russell 2000 (IWM) – 58.2 (neutral)
* NASDAQ 100 (QQQQ) – 58.2 (neutral)

Sector ETF Extremes Options Strategy

* Biotech (IBB) – 59.8 (neutral)
* Consumer Discretionary (XLY) – 57.1 (neutral)
* Health Care (XLV) – 43.8 (neutral)
* Financial (XLF) – 45.0 (neutral)
* Energy (XLE) – 55.7 (neutral)
* Industrial (XLI) – 57.8 (neutral)
* Materials (XLB) – 55.4 (neutral)
* Real Estate (IYR) – 42.0 (neutral)
* Retail (RTH) – 58.4 (neutral)
* Utilities (XLU) – 39.1 (neutral)

Ultra Extremes

* Ultra Long (SSO) – 52.2 (neutral)
* Ultra Short (SDS) – 49.1 (neutral)