3M Company (MMM).
Trade: Consider shorting Oct (10/20) $217.5/225 bear call spread (30 DTE) for current mid-point around $.65/share.
Technical Setup: Bearish Gap from rally to Major Resistance on daily chart.
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $214.62.
Western Digital Corporation (WDC).
Trade: Consider shorting Oct (10/20) $93/100 bear call spread (30 DTE) for current mid-point around $.55/share.
Technical Setup: Bearish Gap from whippy consolidation on daily chart.
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $92.02.
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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