Now That Retail is Out

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If you’ve been itching go to bearish on retail, there are a few good reasons to do so now:

  1. The latest retail figures are out, dispatching that uncertainty;
  2. The IV rank and the implied volatility are very low (see below);
  3. There’s a squeaky-clean price gap at 94.72 on XRT which would act as a sensible stop-loss
xrt
slopechart XRT
30-day implied volatility
slopechart XRT
Long-term IV rank (scraping along the bottom lately)