iQIYI, Inc.
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Where I'd like to buy IQ again

1 045
Finally IQ has seen a nice dip most likely due to profit taking on the online retailer sales tax news.

My guess is she continues a bit lower, especially if the low of June 15th's candle ($37.57) is taken out.

Here is my current plan to initiate a new position on the way down.
Nota
First entry hit. 32.40 missed by 20 cents. I did sell some July $30 puts near the low yesterday for $1.90. They are already at $1.15.
Dagangan aktif
I decided to go with selling puts to take advantage of the high IV of IQ. First position is $30 July puts for $1.90. I will be looking to enter $20 > $2 or $25 > $4 Jan 19 puts
Nota
The past few days price action is telling me she wants to settle around $30 before making a push back up to the ATH.
Dagangan aktif
Sold x3 $20 Jan 19 puts for $1.70
Nota
Will look to sell 3-4 more of the same puts if IQ reaches $28.
Nota
Covered the $30 July puts for $0.90 yesterday. Still holding the $20 Jan 19 ones.
Nota
Trying to close the $20 Jan 19 puts at $0.90 for a 47% gain.

Penafian

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