At any point I see price acceptance like this in a stock or index, I am intrigued. There is multiple weeks of price consolidation, or “balance” in biotech stocks. Take a look at the $IBB:
I bought $LABU on Friday for just over $6. If the market is entering a grind this week, this is a must-try spot for a long.
I also like $ADXS and my $ATRA March Madness pick here for a individual stock play in the space.
OA
If you enjoy the content at iBankCoin, please follow us on Twitter
Can’t stop myself from betting against last year’s winners. Bot AAPL Mar 95 puts and think that biotech shares are in the same vulnerable hands as the FANG names and will continue to be sources of funds for 2016.
Any thoughts on POT for the next couple weeks? I have MAR 18s
OA, EEM intrigues me here. Daily and Weekly charts look good to me, monthly, not so much. Any thoughts on nibbling on emerging markets?
I like the overall idea. It was divergent when SPY came in this year.
Grind higher right? Thats what I’m seeing in the smalls.
Here comes the margin clerks…VRX and FANG names will perish
Bot QQQ Mar 102 puts
Does anyone know the best way to negotiate better commissions? I’m currently with Optionxpress and the fees are really cutting into returns
Phone call and threaten to leave. Works perfect.
I second Jeff. I negotiated $7.99/trade with TD Ameritrade (I don’t do options).
Appreciate the replys Ill give it a shot
Did the same with Optionhouse and got them to reduce ticket charges to the following:
For single leg option orders the minimum dropped from $12.50 minimum to $5.00 minimum. Spread orders dropped from $15.00 minimum to $10.00 minimum. The per contract rate will stay at $0.50/per contract. It is the lowest per contract rate for accounts trading less than 10,001 contracts per month.
Watch them though if they give you a break, Optionhouse reverted to my old schedule with a new calendar year and I had to call and raise hell to get them to change it back.
The discount brokers will do anything to keep customers. They lose money on the $7 trade but anything to grow the customer base.
Its cannibalizing revenue for the industry.
I used to get .75 a contract at lightspeed but the platform was unreliable for me at the time. OX is 9.95 whether I buy 1 or 100 and its killing me legging in and out on smaller lots
OA is right. I’m still trying to trim down mine with Ameritrade and down to $7/ trade and .55/options. Still negotiating with then to get the options lower as I sell a lot of spreads which is costly. If you are high volume, remind them of your trading volume over the past year.
“I bought $LABU on Friday for just over $6. If the market is entering a grind this week, this is a must-try spot for a long.”
How about shorting LABD instead…. LABU would have to fight the roll decay but with a LABD short it works on your side. I love shorting the leverage short etf’s as a long play…. The underlying just has to stop moving and you make money. If it actually reverses they get crushed (DWTI, UVXY for example)….
I thought prices would have reacted faster, to be honest. Had I known we’d just sit here, then yes, I agree with the idea.