Spreads are far too tight considering current credit quality. Oil is not cooperating, and although it's being used as a duration haven, I believe high yield bonds are poised to take a bath here. Short to 35, and take half with a tight trail. ATM Sep puts may be the best way to play it, with a 8/1 risk reward.

TA shows ascending wedge exhaustion on the retest, with a price vacuum below to what I see as a well supported level at 35.
Beyond Technical AnalysisChart Patterns

免责声明