Below is a daily chart of Netflix, Inc. (NFLX), $177.92.
Trade: Consider one of two trades: (a) shorting Sep (9/8) $172.5 naked puts (1.5 Days to Expiration (DTE)) for around current mid-point of $.17/share; or (b) Sep (9/15) $170/162.5 bull put spread (8 DTE) for around current mid-point of $.58/share or better since extended intra-day.
Technical Setup: Bullish Wide Range Bar (+WRB) breakout from bullish 3-day consolidation (and Bullish +123 Continuation if closed here), relative strength.
Option Strategy: Short Naked Puts (SP); and Bull Put Credit Spread (BPS).
Stop Loss: $172.28.
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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