ICD Forecast


Bullish Case: ICD displays bullish elements: an AI forecast of +2.35% and hold ratings from analysts. Improved earnings, increased investor confidence, and upbeat sector outlooks could trigger upward price movements.


Bearish Case: ICD shows significant ongoing poor performance, with price drops of -50.7% over a year and persistently high negative trends. Market volatility and sector-specific risks may further drive down the stock.


Potential Outcomes:

1. Positive market shift and earnings improvement (20%).

2. Continuation of current downtrend due to macroeconomic factors (50%).

3. Stagnant movement aligned with broader market conditions (30%).


Trading Oracle: The Helium Long Volatility strategy with debit spreads on ICD 10/18/2024 calls remains optimal. Given high implied volatility and a bullish AI forecast, buying the ICD 10/18/2024 4.00 C with a 6-12 month horizon offers favorable risk-reward at current levels.


July 23, 2024


Independence Contract Drilling Forecast

ICD      Independence Contract Drilling











Correlated Assets

Assets that tend to move strongly with ICD



MED Forecast + Options Trading Strategies   MED  Medifast (0.96)


VIXY Forecast + Options Trading Strategies   VIXY  ProShares VIX Short-Term Futures (0.95)


WW Forecast + Options Trading Strategies   WW  WW International (0.95)


HTZ Forecast + Options Trading Strategies   HTZ  Hertz Global Holdings (0.95)


SQQQ Forecast + Options Trading Strategies   SQQQ  ProShares UltraPro Short QQQ (0.94)



Uncorrelated Assets

Assets with little price relationship to ICD



PATH Forecast + Options Trading Strategies   PATH  UiPath (0.0)


SGHC Forecast + Options Trading Strategies   SGHC  Super Group (SGHC) (-0.0)


TRUP Forecast + Options Trading Strategies   TRUP  Trupanion (0.01)


SLAB Forecast + Options Trading Strategies   SLAB  Silicon Laboratories (-0.01)


NOC Forecast + Options Trading Strategies   NOC  Northrop Grumman (-0.01)



Anticorrelated Assets

Assets that tend to move strongly against ICD



NU Forecast + Options Trading Strategies   NU  Nu Holdings (-0.95)


ANET Forecast + Options Trading Strategies   ANET  Arista Networks (-0.95)


CLS Forecast + Options Trading Strategies   CLS  Celestica (-0.95)


MCK Forecast + Options Trading Strategies   MCK  Mckesson (-0.96)


ANF Forecast + Options Trading Strategies   ANF  Abercrombie & Fitch (-0.97)





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