New Bull Put Credit Spread Idea on IYT
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NEW TRADE IDEA: 10/11: IYT – Consider shorting Oct (10/19) $180 naked puts (8 DTE) for current mid-point of $.70/share. Climactic Buy Setup and Bottoming Tail on Major Support on the daily, uptrend and r50-MA weekly. We consider $.70/share big premium for the ETF being $11.40/share out-of-the-money (OTM) with a Delta of -.14, which statistically suggests 86% chance of it expiring worthless. Stop Loss: $183.40 for now.
