$IBB strategy for next week

I think you can be long early next week on a retest of the 50d. I think too many expect the inverse head and shoulders to send it lower.

I am long via deep in the money LEAPS and recommend writing weekly calls against long at $295 (top of right shoulder). Below the 50d at $286 be careful..

I think there is long term support at $280 and would be adding to position if it got that low