Below is a daily chart of McDonald’s Corporation (MCD).
Trade: Under $156.38, consider shorting Apr (4/6) $160/162.5 bear call credit spread (5 DTE) for a limit of $.55/share (closed at $.62/share).
Technical Setup: Above.
Option Strategy: Bear Call Credit Spread (BCCS).
Stop Loss: Over $160, stop BCCS and sell 4/6 OTM Bull Put Credit Spread under week’s low.
Below is a daily chart of SPDR S&P 500 ETF (SPY).
Trade: Over $265.26, consider shorting Apr (4/4) $260/255 bull put credit spread (3 DTE) for mid-point but limit of $.70/share (closed at $.91/share).
Technical Setup: If triggers, then short term bottom with Major Support at r200-MA daily.
Option Strategy: Bull Put Credit Spread (BPCS).
Stop Loss: $259.83.
Below is a daily chart of United States Steel Corporation (X).
Trade: Over $35.70, consider shorting Apr (4/6) $33.5/30.5 bull put credit spread (5 DTE) for mid-point but limit of $.25/share (closed at $.30/share).
Technical Setup: Above.
Option Strategy: Bull Put Credit Spread (BPCS).
Stop Loss: $32.85.
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Greg Capra
Managing Director of Master Trader
Trading the Pristine Method — Origin and End
Dan Gibby
Chief Options Strategist
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