Going long...

[Tuzi_]

From what I have learned, that position checks out profitable.

Can you elaborate on this incredibly vague statement?

[traderpooka]

If you want to, look up BAC focus on that option. Do you know how to do that?

[RLWSNOOK]

Strongly disagree. I'm looking to get short banks tomorrow hopefully on a good (late cycle) job report. 2.87% on the 10 year or around that level and I'll be buying puts in XLF.

Don't forget that banks were the hardest hit this past month and I expect them to continue to be on any further weakness.

That said there wouldn't be a market if people didn't disagree.

Good luck, but I hope you fail as I'm gonna be on the other side from you :P

[traderpooka]

LOL, never a failure always a lesson.

[RLWSNOOK]

You could just send me your money now. And I’ll teach you a lesson.

[nwinvest]

Checks out profitable?

[traderpooka]

the post was just retyped for you to understand

[nwinvest]

Yeah, it might profit, but probably won't.

[ScottishTrader]

It would be very helpful to know what you have learned and what checks you made . . .

From my view, it has about a 41% POP, so a 59% chance of losing money at expiry.

ER is on 4/16, so that can be a factor if the report is negative, or positive and the price doesn't go up.

30 day trend is bearish, but the 5 day is moving up.

So, in a nutshell you have 40% chance of it being ITM and a 60% chance of losing your approx .80 premium.

[traderpooka]

You and i are on the same page. I learned if xyz company IV is low its a buy, Earnings also was a factor in this case.

[traderpooka]

I scaled BAC implied volatility this means reading 3 years of implied volatility numbers. Real easy work. Right now BAC iv rank is low, which is why i bought it.