okay, etf xle. you can draw this any way you want.e would say it's a head and shoulders bottom, surely is. something on the shoulder here, you might call that a neckline. what we know is those are very precise lines. the level from which it broke out -- what we're thinking is at a minimum it's going to check back to the apex here. and/or just continue to do this. that there's no great life. so we're going to bet this is going nowhere. right call, sell puts, do something. if you're long, don't expect much. >> mike's got a trade. >> that's right. so one of the things you want to do when you are faced with a stock that's really not moving anywhere, you want to sell premium, you could sell puts. you could sell calls. you could sell both. when you sell both, that's a strangle. that's what we're looking at on xle. specifically the march 70 78 strangle, selling march 70 puts, collecting 55 cents for those, also selling the march 78 calls, collecting 30 cents for those, net 85 cents, an extra 8.5% per year. this is due to go ex-dividend in ma

etf, xle, draw it any way you want. some say a head and shoulders bottom. surely is.ething on the shoulder here. call that a neckline, but we know this -- very presis linecise lines. at a minimum, check back to the apex, and/or continue to do this. no great life. we're going to bet this is going nowhere. right paul, do something? but if you're long, don't expect much. >> mike's got something to do. a trade? >> yeah. one of the things you want to do when faced way stock not moving anywhere, you want to sell premium. could sell puts or calls or sell both. when you sell both that's calm add strangle. what we look at here on xle. 70, 78, collecting 55 cents for those and also selling the march 78 calls collecting 30 cents for those. net 85 cents. annualize those returns works out to an extra 8.5% per year. this is due to go x dividend in march. maybe one of the reasons you own xle. don't want to sell it. relying on dividend income. collect additional premium doing this. point, rally through the upper strike you'll have your stock called away from you. of course, rallies t

xle. i don't think it is a good strategy to do etf like this where option prices are so low.o look at one of the underlyings where option prices have moved up. there is i haddio since democratic risk. you will get paid to call against the stock that you own and maybe enhance the yield. we know exxon is a 3.5%. if you were to sell a one month out, 3% out of the money, you can maybe take in a half percent. >> 50% is made up of the top five or six stocks and two have already reported. whether you'll get a big surprise out of one of the constituents. one other quick points. this is not moving. the volatility of xle is as low as it's been in about two years. that's the reason why people are not putting more of a bid. >> still ahead, netflix shares are up 7%. that came as no surprise to our chart master. who predicted the move to new highs. how did he know? he will explain. options action returns. hey gary, what'd you got here? this bad boy is a mobile trading desk so that i can take my trading platform wherever i go. you know that thinkorswim seamlessly syncs across all your devic

etf that tracks biotech, off 3.4%. energy shares one of the big gainers as oil prices rallied during the news conference, xle up by betterxon mobil, i added because rex tillerson is on capitol hill. the etf that tracks brazilian shares, they got a boost after brazil's central bank cut its benchmark interest rate by .75%. this was not anticipated. look at the government bond market, here we go, not a ton of action in the u.s. year yields on change, 10 year yields down by a little bit, basically no action on the long end. in turkey, the turkish lira continues to plunge. a one year of turkish tenure yields, absolutely 6.0 9%, notp to 0.69 pretty for turkish 10 year yields. scarlet: in terms of currencies, come inside the bloomberg, the bloomberg dollar index erased its gains during the donald trump news conference, recovered, then lost steam again , down .2%. mr. trump was silent on fiscal stimulus. we see some of those donald trump trades thing unwound. joe: look at the spikes up and down. mentioned and repeated his pledge to build a wall and make mexico pay for it, even after the wall is built. joe: a quick look at oilodi

energy sector, also the spdr, ticker xle is off lows of the session but 2% so far today. that etf lower this month for its worst month in over a year. melissa, with the markets and s&p down 1% at this point, traders wondering if this could be the beginning of the drop we have been waiting for. perhaps we'll see. >> dom, thank you. >>> to the bond market now, rick santelli is tracking all the action. hi, rick. >> hi, melissa. slip in rates, that's continued a bit. although not in great range size. open the chart up. couple of things should jump out at you. rates have held the upper end of its range. for 2017, high yield closed at 251. look at the dollar index, definitely the same pattern but a lot more give back on the foreign exchange side. finally, talk about very little give back. look at the hyg. you could look at this, barclay's, spreads. high yield has really been very well behaved. good investment class considering all the issues of the day. melissa lee, back to you. >> thank you very much, rick santelli. michigan in the crosshairs. no state has more on the line in president