You were to ask several follow-up position on the turbo puts advised on the chemical sector (code: 8906N) on 28 June. Down 20%, they have an unlimited term.
We recommend keeping this position to capitalize on the decline of the European chemical values. We are still pessimistic on the sector (to take only the French values we are away from Solvay and Arkema). Technically, the benchmark is 701 points, while the knock-out is a 796 points. Therefore, there is a sufficiently significant safety margin to stay invested.
Moreover, today they show more than 7% in the wake of the 1.2% decline of the Stoxx 600 index.