I'm going to pick up a speculative (as any long with market correlation at this point should be) position in XLF calls, October 3rd expiration with a strike of $23.
As you may recall, I want to pick up more FAZ shares on a pullback, I think we will get that pullback, but in the meantime to do so, XLF needs to rise and this looks like a decent speculative short term play. I almost always use about 3x more time than I think I'll need when choosing an expiration so keep that in mind and don't read too much in to the expiration as I believe this is a short term position like the IWM calls.
I'll post charts next.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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