Quintet Update

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Here I am on another plane, trying to squeeze a few ones and zeroes out of the pathetic GoGo “broadband” (more like a thin straw) to the Internet. But duties to Slope reign supreme, so I will make the best of it.

I wanted to offer a view of my five options positions, by way of the underlying instruments. I own in-the-money, long-dated puts on these, spanning as far out as June of next year. My intent, based on my target prices of the underlying, is to double my investment in each of these but, ahhh, we’ll see how that goes.

First up is Brazil, which I did a brief post about earlier today. This is a new position, entered today ,and it needs to break last week’s lows to crack that trendline.

slopechart_EWZ

Next is financials, which is breaking down nicely. We’ve got a long way to go to reach support (and this is one of my June options, so there’s a ton of time).

slopechart_XLF (1)

The Industrials is a favorite of mine right now, and even with the stupid buy-the-dip action on Thursday, it managed to break below a small topping pattern and, as with financials, has a ton of time to get weaker.

slopechart_XLI

Probably the position I’ve referred to most frequent is consumer staples, and although it’s had a first bounce recently, not only have I stuck with it, I’ve added more. This is probably the cleanest of all the patterns among these five.

slopechart_XLP

Finally is another new position for me as of today, utilities. This has been in a stunningly long uptrend, but it is crammed up against long-term resistance, and my supposition is that a strengthening interest rate environment is going to batter this down.

slopechart_XLU

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