The SOXS trade discussed last week continues to be the best trade on my screen, albeit not yet triggered by rising to new daily highs post mid-session. Note on the 120 minute chart below how a mere 50% retracement of the move down from near $50 to $23 prices the index at $36, which would place the May $30C six dollars in-the-money. SOXS 120 Minute Today's (Monday) high print is $24.02. Taking it out anytime is our new trigger to enter May Calls. SOXS May Expiration Risk -50% to make +200%, even if I am wrong on intermediate term direction and all we get is a 50% retracement of latest leg down. April -May Option Rollover PL This option trade from the Premium Service expires on Friday. If still holding by expiration, intention is to roll-over to May calls, looking for $40-$50, absent a market meltdown. PL May Expiration
