Below is a daily chart of Exelixis, Inc. (EXEL).
Trade: Over $28.10, consider shorting Dec (12/15) $26/24 Bull Put Credit Spread (14 DTE) for a limit of $.26/share (currently $.30/share but spready, which makes it higher risk).
Technical Setup: +WRB Breakout from huge bottom above r200-MA daily, major support daily/weekly.
Option Strategy: Bull Put Credit Spread (BPS).
Stop Loss: $25.98.
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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