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AI SOXL Forecast + Trading Strategies


Price Forecast:


Bearish   <->   Bullish

Bullish Case: SOXL shows potential for upward movement as long-term semiconductor demand remains strong, backed by substantial implied volatility and AI forecasts indicating a 2.21% price increase. A favorable economic environment could support this trend.

Bearish Case: Current high implied volatility signals potential price corrections due to increased market uncertainty and tech sector cooling. A significant drop below $40 is plausible if demand shifts negatively, especially with recent flat price trends.

Potential Outcomes:

1. Continued demand increase (40% probability).

2. Market volatility impacting SOXL negatively (30% probability).

3. Improved tech sector performance (20% probability).

4. Economic downturn impacting semiconductor trends (10% probability).

Trading Oracle: Initiate a bullish gamma scalping strategy. Buy 5 SOXL $42 call options while simultaneously selling 3 SOXL $45 call options, targeting a 61% profit probability. This approach leverages current high implied volatility for favorable risk-return dynamics.

August 20, 2024


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SOXL      Direxion Daily Semiconductor Bull 3X Shares

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Correlated Assets

Assets that tend to move strongly with SOXL


LRCX Forecast + Options Trading Strategies   LRCX  Lam Research (0.98)


AMAT Forecast + Options Trading Strategies   AMAT  Applied Materials (0.98)


TECL Forecast + Options Trading Strategies   TECL  Direxion Daily Technology Bull 3X Shares (0.97)


TQQQ Forecast + Options Trading Strategies   TQQQ  ProShares UltraPro QQQ (0.96)


ROM Forecast + Options Trading Strategies   ROM  ProShares Ultra Technology (0.96)



Uncorrelated Assets

Assets with little price relationship to SOXL


CTRA Forecast + Options Trading Strategies   CTRA  Coterra Energy (0.0)


COTY Forecast + Options Trading Strategies   COTY  Coty (-0.0)


SVOL Forecast + Options Trading Strategies   SVOL  Simplify Volatility Premium (0.0)


LH Forecast + Options Trading Strategies   LH  Laboratory Corp. Of America (-0.01)


OHI Forecast + Options Trading Strategies   OHI  Omega Healthcare Investors (-0.01)



Anticorrelated Assets

Assets that tend to move strongly against SOXL


FWRD Forecast + Options Trading Strategies   FWRD  Forward Air (-0.85)


SH Forecast + Options Trading Strategies   SH  ProShares Short S&P500 (-0.91)


SPXS Forecast + Options Trading Strategies   SPXS  Direxion Daily S&P 500 Bear 3X Shares (-0.92)


SQQQ Forecast + Options Trading Strategies   SQQQ  ProShares UltraPro Short QQQ (-0.93)


VIXY Forecast + Options Trading Strategies   VIXY  ProShares VIX Short-Term Futures (-0.94)


SOXL News over Time





Click points to explore news by date. News sentiment ranges from -10 (very negative) to +10 (very positive) where 0 is neutral.



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