Looks like we are going to have a higher open, but one thing to stay cautious about is the low IV. The worst thing about this low IV is that there is not a lot of premium to sell, so if you are selling today sell smart keep your eyes on IV. One situation that I think about when IV gets this low is a pop in IV after you sell premium. That has to be the worst thing about IV this low, if you do get a pop premium prices go through the roof. That is way I always have extra capital so I can deploy more selling at a higher premium price.
Yesterday we broke that channel line and closed above it. My next level that I’m watching is the old high of 1,150.
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