Review of Session: New weekly lows in equities off the NFP report.
Next Session: Expecting more lower prices on Monday. Don’t see enough bearishness in the market for a sustained rally yet.
From the Quicksheet: Peloton is in on the Quicksheet. They’ve been heading back toward the IPO price and are ready to start balancing. IV rank is high, so premiums are elevated. When an auction is ready to balance, it’s a great time to think about a neutral strategy. Suppose you wanted to create an idea from this…
|OPPORTUNITY?||PTON begins balancing in a range between 31 and 45|
|IDEA?||Sell Fed 45/50/31/30 Iron Condor for 1.23 or better|
|RISK?||Risk on the spread is max $377/spread|
|HOW WILL I KNOW THAT I’M RIGHT?||PTON balances between 31 & 45|
|HOW WILL I KNOW THAT I’M WRONG?||Trade and sustained hold outside the 31-45 range|
TO FIND OTHER IDEAS LIKE THIS: