Below is a daily chart of SPDR S&P Metals and Mining ETF (XME), $31.31.
Trade: Consider shorting Sep (9/15) $30 naked puts (23 DTE) for a limit of $.30/share (current mid-point.
Technical Setup: Breakout daily after Buy Setup on support weekly chart.
Option Strategy: Short Naked Puts.
Stop Loss: $30.08.
Below is a link to individual videos explaining in greater detail the definitions of the main option trading strategies used in the Master Trader Option Strategies Series for Investors and Active Traders to generate wealth and income.
Description of Master Trader Directional and Income Option Trades can be seen HERE
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
Follow Greg on Twitter, YouTube, and StockTwits to get real-time updates and education:
Twitter: @GregCapra
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