Below is a daily/weekly chart of Xunlei Limited (XNET).
Trade: Consider shorting Jan (1/19) $35/40 bear call spread (53 DTE) for a limit of current mid-point of $.70/share.
Technical Setup: Climactic Sell Setup, Topping Tail, and small Bearish Island Reversal daily, CSS weekly.
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $29.22.
Happy trading! If you have any questions or comments, please e-mail Greg Capra at Greg@mastertrader.com or Dan Gibby at Dan@mastertrader.com
All the best,
Greg Capra
Managing Director of Master Trader
Pristine’s Founder and Creator of the Pristine Method
Dan Gibby
Chief Options Strategist
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