Sold the 58 strike on XLU yesterday afternoon. It hit a weekly level and looked like it wanted to stop selling with small candles on the down move. Kind of in between the higher time frame declining -1 sig and the rising -1 sig with the best inflection point on VWAP. It's that weekly rejection that I'm anticipating happening.
The strike is positioned at 58 which is a weekly level 2 down. There's another one closer in at 59.31 that I'm thinking will play some defense.
################################# Symbol XLU Open Date 1/18/2024 Put or Call Put Expiry Date 3/15/2024 Short Strike 58 Long Strike 57 Price to Open 0.16 Min Width Multiple 2 Risk Ratio 5.25 Return on Risk 19.0% Opening DTE 57 1 Day ROI% 0.33% Max Annual ROI % 122.0% Buyback to Close Open to Roll Closing % Cost on Opening Credit Net Roll % on Opening Credit Closing Date Closing Price Closed Margin ROI % Closed Annual ROI %
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