BY ANDREW GIOVINAZZI
November 17, 2023
Yo Pit Crazies,
If you missed Frank’s massive Federal Gov’t takeover extravaganza last night, you can view it here from the safety or your desktop.
As you know, or might not know, my Easy Trade Button class just buys strangles and calendars. What you might not know is how I do it.
A graph like the Intel Corp (Ticker: INTC) one below sure is a good example.
Do I buy the biggest candle in 6 months today?
Or do I wait for a pullback?
INTC 6 month charts with implied and realized vol on the bottom
If you were trading the Easy Trade Button system, you could figure it out
Bull markets are excellent strangle setups
The bull can be a day, a week or a month
You can see from the charts above that the red line, or 30 day IV dove to 6 month lows.
Why is the subject for another post but the important thing is options are cheap and INTC is moving.
Who cares if INTC makes chips, dips or yoga mats.
The pricing and the move is all that matters trading options.
Remember we are not investors when buying short term options. We are trading them.
Don’t get caught up in what a name should be doing, just place the trade to make money for what the name is doing.
Right now tech is rallying so lean long with cheap protection for bad surprises.
Funny enough, that is what the market is giving me in INTC right now and I will take it.
Sign up for the Easy Trade Button and learn to work from a list of names, the OP 66, and learn the practice of trading.
To Your Trading Success,
AG
Andrew Giovinazzi
30-Year Trading Pro
See what's hot at option pit
CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain
PFE May17 26 calls closed for a 66% win
OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain
OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain