Below is a daily chart of Costco Wholesale Corporation (COST).
Trade: Consider selling the following $2.5-wide Iron Condor: sell Sep (9/22) $162.5/165 bear call spread and sell Sep (9/22) $152.5/150 bull put spread (11 DTE) for around current mid-point of $.44/share.
Technical Setup: Multi-week range bound daily and weekly, time decay strategy.
Option Strategy: Iron Condor (IC).
Max Gain: Credit received, 21.9% ROI ($.44/2.01) if expires worthless.
Stop Loss: $150.78 on downside; $161.22 on upside, close losing position.
Below is a daily chart of Tesla, Inc. (TSLA).
Trade: Consider shorting Sep (9/22) $332.5/310 bull put spread (11 DTE) for current mid-point of $1.00/share or better.
Technical Setup: Breakout daily chart, bullish consolidation weekly/monthly.
Option Strategy: Bull Put Credit Spread (BPS).
Stop Loss: $338.68.
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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Twitter: @GregCapra
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