For this week's trade, we're selling an $XLI May 97/105 Strangle for approximately $2.85 net credit. This means we're naked short both the 97 puts and the 105 calls.
Get the full details, risk management procedures and targets for this trade here:
Today we sit down and chat with Professional Trader Kimmy Sokoloff.
I'm lucky to have known Kimmy for well over a decade, and we hit it off from the start.
Kimmy went through the CMT program in the 90s. And funny enough, volunteered later on with the CMT Association to grade Level 3 exams, which are mostly essays. We joke that she most likely graded mine in 2007-2008.
While I like to look out weeks and months for my timeframes, Kimmy focuses specifically on the hours and days. A 2 week trade for her is "Long-term".
We're both trained in similar ways, as CMT Charter holders. But our experiences are different.
Kimmy spent most of her career in Institutional Sales and Trading. She spent decades on the phones all day with huge funds.
So when Kimmy has something to say, we want to listen. I hope you enjoy this as much as I did.