Trade Ideas
UOA PRO New Trade Idea XLE 7-23
15,000 07August 60 puts bought in one print for 1.58 above open interest of 32 contracts. Stock 59.66.
New Trade Idea
Ticker: XLE
Stock: 59.64
Trigger: 59.20
Targets/Resistance: 58.91, 57.51, 56.82, 55.70, 54.51, 53.48, 52.17
Expiration Date: 07AUG
UOA: 15,000 07August 60 puts bought in one print for 1.58 above open interest of 32 contracts. Stock 59.66.
XLE $59.47 Last.
Large 2 week out ATM put buy that could be seen as legit positioning or a hedge. Willing to entertain a mild pullback here after the run it has had. NOT a Big Mover typically and would prefer individual names here but this is the UOA that’s hit.
Trigger: $59.20, yesterday’s close.
Strategy 1: Consider the XLE 07Aug. 60.00 puts for $1.80 projected at trigger level today. Wouldn’t hestitate here to roll down if it slides back towards the 10 SMA given that the short to intermediate term trends have been up.
Targets: 58.91, 57.51 (10 SMA currently), 56.82, 55.70 (20 SMA currently), 54.51, 53.48, 52.17 (100 SMA currently)