Slippery markets make for rising options premiums. And one sector ETF is currently rising head and shoulders above the rest, offering some juicy premiums for us to sell into along with a wide risk management band for us to dance in.

So let's take advantage of the rising fear in this sector for an opportunistic trade and potentially quick profits.

When I last wrote to you, I was mired in a spiral of frustration as I grappled with understanding what went wrong with one of my strategies, what I missed that opened the door to a larger-than-expected loss, and how to move forward.

I’m happy to report that I’ve come out the other side.

The only way out is through.

That’s always been true for me, at least.

My wife can attest: up until yesterday, for a week I’d been walking around like a grumpy zombie, lost in repetitive thought, running mind simulations of hundreds of scenarios and if/then situations. 99% of the ideas were just simple regurgitations of things I tried and failed at in the past. It takes tremendous effort for me to remind myself: been there, done that.

I often waste significant time and energy rehashing old tricks I’ve employed in the past that I’d already proven don’t work as intended. Being better about journaling and reviewing said journal regularly would probably help me out with this.

What helped turn the corner for me was

This one's a bit of a short-term tactical bet.

We're fading a recent move and we'll know if we're wrong quickly.

But the nice thing is that we know Uncle Warren Buffet has our back.

Timing matters for this play, so let's get right to it.

As a trader, I’ve grown comfortable with losing.

Losing money is part of winning over the long run.

There is no winning without losing. Sounds crazy, but traders know this to be true.

We’ve all heard that losses are lessons. They are expensive lessons, but often the most valuable. Nothing valuable comes cheaply.

During the triage phase of dissecting what went wrong, we often have “a-ha!” moments that lead to new rules and new promises, and renewed confidence. “Next time,” we tell ourselves, “the outcome will be drastically different!”

This is all well and good.

Today, I currently find myself in a unique spot.

In the options market, summer flights priced in Boeing options are pretty cheap right now.

I think I'll be looking to take a flight to a fun European destination if I can get a bullish position in Boeing to pay for it. Maybe I'll even fly on a Boeing jet?

During our analyst meeting this morning, we kicked around a few bullish ideas, but it was this Boeing $BA chart that rose to the top:

We're going to get involved with a bullish options spread that gives us through the summer to most efficiently express this thesis.

JC had a great post this weekend about our favorite Magazine Cover Indicator violator -- The Economist. Go give it a read and then come on back here.

Are you caught up? Good.

You read what JC said to do. Let's do it.

Strazza and I did The Flow show earlier this week in which one trade that stood out and caught my interest was a juicy short squeeze candidate.

Checking back on it today, the stock still maintains a short position greater than 20%. That means more than one-fifth of all shares outstanding are held by people with a short position. And if this stock starts busting higher, the only way traders holding a short position can end the pain is to buy the stock.

This can potentially fuel a rapid rise in share prices (see: Gamestop $GME circa early 2020).

I'm certainly not calling for a repeat of past meme stocks short squeezes here, but in this case, we've got a stock that's chart is in the middle of completing a beautiful base and short holders are no doubt keeping their fingers near the trigger to exit this position quickly if we see some follow thru to the upside.

That creates opportunities for us.

Whoa baby. This might be a fun one. Or not. Either way, we'll likely find out pretty quickly.

Chinese stocks continue to offer up interesting opportunities. And today's trade is no exception. And to play it, we're going to do it in a fairly aggressive manner, but with a tight risk management stop.

Let's get right to it.

We're already long some domestic semiconductor stocks via options (the trend is working). However, perhaps we've set our sights too close to home.

International stocks have been on a tear recently, showing even greater strength than the U.S. So maybe we should be looking for the strongest stocks, in the strongest sectors, in the strongest countries?

With this in mind, today's trade takes us to Switzerland.

I'm an amateur chartist, at best. If you want charting experts, I'll refer you to my team here at All Star Charts.

That said, I've got my eye on what appears to be a bullish flag forming in a hot Chinese stock and it looks ready for liftoff. Coupled with cheap options pricing, we can neatly define our risks and position ourselves for a big win.