Trade Ideas
UOA PRO Update SMH 8-19
6,398 18September 545 puts bought for 15.71 above open interest of 588 contracts; 5,398 18September 485 puts sold for 3.55 above open interest of 1,319 contracts. Rolled from a 6,398 contract put spread in the 21August 595//530 strikes. Stock 562.70.
Status Update
Ticker: SMH
Stock: 562.70
Expiration Date: 04SEP
New UOA: 6,398 18September 545 puts bought for 15.71 above open interest of 588 contracts; 5,398 18September 485 puts sold for 3.55 above open interest of 1,319 contracts. Rolled from a 6,398 contract put spread in the 21August 595//530 strikes. Stock 562.70.
UOA PRO New Trade Idea SMH 8-18
Ticker: SMH
Type: Bearish Put Spread
Stock: 568.75
New Trade Idea
Ticker: SMH
Stock: 568.75
Trigger: 562.63
Expiration Date: 04SEP
UOA: 22,109 04September 545 puts bought for 10.75 above open interest of 70 contracts; 22,109 04September 515 puts sold for 4.25 above open interest of 68 contracts. Stock 568.75.
SMH $567.25 Last.
Updated on this earlier. Early Sept. set OTM put spread trades in size. Possible that this key ETF is working lower from a lower high. Could be at risk of a retest of the summer lows if selling continues. Market acting more defensively. Market leaders still largely in retreat.
Trigger: $562.63, today’s low.
Strategy 1: Consider the SMH 04Sept. 560.00-520.00 put spread for $12.00 projected at trigger level today. Uncappable.
Targets: 556.53, 552.66, 548.86 (100 SMA currently), 515.85