{"id":11130,"date":"2018-07-09T13:51:00","date_gmt":"2018-07-09T17:51:00","guid":{"rendered":"https:\/\/trades.iwopremium.com\/?p=11130"},"modified":"2018-07-09T13:51:00","modified_gmt":"2018-07-09T17:51:00","slug":"proactive-spreads-july-9th-2018-nke-cop-rut","status":"publish","type":"post","link":"https:\/\/trades.iwopremium.com\/proactive-spreads-july-9th-2018-nke-cop-rut\/","title":{"rendered":"Full Time Profits, July 9th 2018 – NKE, COP, RUT"},"content":{"rendered":"

\"\"<\/p>\n

Today’s price action is confirming that, so far, the most recent move lower was simply a shakeout.<\/p>\n

Think about the original trade thesis we’ve been working with for months– the market is working through a large, multi-month range.<\/p>\n

As it stands, the upper end of the range is 2800, and the lower is around 2600.<\/p>\n

If the S&P 500 can confirm a move above 2800, then we should expect new highs. This is already being confirmed in smallcaps, while the Dow is a serious laggard due to trade war risk.<\/p>\n

(Speaking of the Dow, the level I’m watching for upside confirmation is around 25,400.)<\/p>\n

My bias still remains higher, but I don’t think it will be the same kind of price action we saw in 2017. More volatility, more back and forth.<\/p>\n

Trade #1: NKE<\/h2>\n

\"\"<\/p>\n

Great move on earnings, the stock has faded to nearly half of the gap higher. I’m expecting these levels to hold and the stock to make a rn back to 80.<\/p>\n

Trade Setup<\/strong><\/p>\n

Expected Price: 77.11<\/p>\n

Sell to Open NKE Aug 72.50\/70 Put Spread<\/strong><\/p>\n

Tier 1: Enter at 0.24, Exit at 0.04<\/p>\n

Tier 2: Enter at 0.40, Exit at 0.10<\/p>\n

No Tier 3, May Need To Roll to Sep.<\/p>\n

Trade #2: COP<\/h2>\n

\"\"<\/p>\n

Conoco is the strongest large cap oil name. I’m expecting continuation higher into its earnings event.<\/p>\n

Trade Setup<\/strong><\/p>\n

Expected Price: 70.77<\/p>\n

Sell to Open COP Aug 65\/62.50 Put Spread<\/strong><\/p>\n

Tier 1: Enter at 0.31, Exit at 0.06<\/p>\n

Tier 2: Enter at 0.50, Exit at 0.25<\/p>\n

No Tier 3 – Earnings<\/p>\n

Trade #3: RUT<\/h2>\n

\"\"<\/p>\n

The Russell 2000 Index is up 3.5% over the past 5 days. Starting to get a little overbought here.<\/p>\n

I think trying to short into obvious resistance is too obvious and too crowded. Instead, I want to see an extension above the most recent levels as the early shorts get smoked.<\/p>\n

Trade Setup<\/strong><\/p>\n

Expected Price: 1730<\/p>\n

Sell to Open RUT Aug 1790\/1795 Call Spread<\/strong><\/p>\n

Tier 1: Enter at 0.75, Exit at 0.25<\/p>\n

Tier 2: Enter at 1.05, Exit at 0.55<\/p>\n

Tier 3: Enter at 1.35, Exit at 0.85<\/p>\n","protected":false},"excerpt":{"rendered":"

Today’s price action is confirming that, so far, the most recent move lower was simply a shakeout. Think about the original trade thesis we’ve been working with for months– the market is working through a large, multi-month range. As it stands, the upper end of the range is 2800, and the lower is around 2600. […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":""},"categories":[24],"tags":[],"_links":{"self":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/11130"}],"collection":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/comments?post=11130"}],"version-history":[{"count":1,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/11130\/revisions"}],"predecessor-version":[{"id":11135,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/11130\/revisions\/11135"}],"wp:attachment":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/media?parent=11130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/categories?post=11130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/tags?post=11130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}