I'm going to look for an initial knee jerk move lower after the minutes are released, I may (if there's accumulation) add to yesterday's July IWM $115 calls that were entered as a spec. position at 1/3rd normal size, here's why in a nutshell.
IWM 1 min-IWM has been trading at more reasonable prices than the Q's, easier to accumulate for a short term bounce as you'd be chasing the Q's and higher premiums, unless they came down right after the minutes on a knee jerk that is accumulated.
The IWM looks decent here.
At 2 mins the IWM looks good, again at the lower gains, it's easier to accumulate than the Q's.
IWM 3 min
IWM 5 min, now
compare to QQQ charts as they have been trading at higher gains meaning accumulating would be chasing increased premiums.
1 min nothing
2 min actually looks like someone has a quick trade for a downside fade, maybe the knee jerk move on the release of the minutes?
Tha same at 3 mins.
I'm going to wait for confirmation, but I suspect a quick initial drop is being set up, I'm going to look for accumulation in that drop if it comes and if it's there, add to the IWM calls, at least until we get to an area where shorting the positions mentioned last night and others makes sense and is confirmed with negative divegrences.
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