Below is a daily chart of Pioneer Natural Resources Company (PXD).
Trade: Consider shorting Sep (9/15) $134 naked puts (2 DTE) for a limit of $.65/share (closed at $.50 x $.80/share).
Technical Setup: Bullish Wide Range Bar (+WRB) Breakout from daily consolidation.
Option Strategy: Short Naked Puts (SP).
Stop Loss: None. If closes in-the-money into the market close Friday, roll to the Sep (9/22) $132 naked puts at mid-point (closed at $.85 x 1.15).
Adjustments and Comments on Weekly Option Trades
9/14/17: PXD – Consider shorting Sep (9/15) $134 naked puts (2 DTE) for a limit of $.65/share (closed at $.50 x $.80/share). Stop Loss: None. If closes in-the-money into the market close Friday, roll to the Sep (9/22) $132 naked puts at mid-point (closed at $.85 x 1.15).
9/12/17: BIDU Shorted Sep (9/15) $227.5 naked puts for $.60/share. Closed at $.10/share for 83% of Max Gain.
9/11/17: KSU – Shorted Sep (9/15) $103/99 bull put spread for $.35/share. Move stop loss $103.48. Bid $.05/share to close the short $103 puts (if not filled on 9/13, then cancel order and let short put expire worthless).
9/8/17: RE – Shorted Sep (9/15) $160 naked puts for $.45/share. Stop Loss: None now. Bid $.05/share for the Sep (9/15) $195 naked puts to try to get a free put spread and eliminate remaining risk (if not filled on 9/13, then cancel order and let short put expire worthless).
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
Stocktwits: Greg_Capra
youtube.com/c/mastertrader (please subscribe to receive all the timely stock market updates)
