Going For The Gaps

By Tim Knight of Slope Of Hope

Tuesday, April 19, 2022 10:12 AM EST

My enthusiasm for this market remains tepid, but the trio of charts below is worth sharing. I purchased puts on ANF (August $40) and BURL (September $250) just now, taking advantage of the gap closure. I was thinking of puts on SIVB, but the spreads are too horrible, even for me.

ANF:

(Click on image to enlarge)