EWZ Short

Filled around 3:10pm

26.5/28 Apr16 bear call @ 0.40. Position was filled very quickly and only 0.02 from mid. Nice!

This position has 39 DTE and a 68.3% PoP. IVP = 78.

Basically, EWZ is looking a little overbought. Top end of the BB's and RSI, as well as the top end of it's IV range. I'm about 7.5% above the market currently, which is comfortable. EWZ did have a 46% rally off of the lows set on January 21, though. I think it's nothing more than a bear market bounce. In a bear market, you do the opposite of what you do in a bull market; you short the rips instead of buy the dips.

I think EWZ may retrace and fill the gap it left on Friday, leaving it at the 23.80's. We'll see.

~Charts



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I like how SPY is selling off going in to the close, obviously. Never went green today, which is good. Can't worry about missing the TLT move because missed opportunities happen all the time. Still not opposed to shorting EEM if it fails at the resistance I mentioned earlier today, but it has to get there first. Keeping an eye on TLT then subsequently for when it becomes a short opportunity. Unfortunately I have to get directional because the market just isn't welcoming to us traders who prefer to be delta neutral right now.