Friday, May 20, 2016

Friday's Agenda

In the Prospects post last night I noted one symbol, BIIB, which was a bit below the required level of implied volatility needed to qualify for full analysis and possibly a trade.

I calculated IV as a percentile of its most recent rise. I require the 60th percentile or higher. BIIB was at the 55th percentile, clearly within reach if it moved higher.

It went the other way. An hour into the trading day, BIIB it doesn't qualify for further analysis.

The other two prospects, BA and MA, remain well below the qualifying level.

A chart of symbols and their IV percentiles:

symrange %ile

BA and MA are to far from qualifying to have any hope, and I'm setting them aside. BIIB could well reverse. I'll check it during the day and if the IV percentile moves to the 60th percentile or higher, then I'll start the analysis.

-- Tim Bovee, Portland, Oregon, May 20, 2016

Saving Capitalism: For the Many, Not the Few
by Robert B. Reich


Tradecraft: Playing the odds to build winning stock market trades from options, a description of how I trade, can be read here.

Elliott wave analysis tracks patterns in price movements. StockCharts has a good explainer. The principal practioner of Elliott wave analysis is Robert Prechter at Elliott Wave International. His book, Elliott Wave Principle, is a must-read for people interested in this form of analysis, as is his most recent publication, Visual Guide to Elliott Wave Trading


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Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.
No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.

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