Below is a daily chart of Alarm.Com Holdings, Inc. (ALRM).
Trade: Extended intra-day and we will give more guidance on 10/3, but look to buy the stock on any retracement above $46.40.
Technical Setup: Bullish Wide Range Breakout daily and weekly, strong monthly.
Stop Loss: $45.28.
Below is a daily chart of Perrigo Company plc (PRGO).
Trade: Provided it does not gap down under $84.40, consider shorting Oct (10/20) $82 naked puts (17 DTE) for mid-point but with a limit of $.55/share (closed at $.50 x .70/share).
Technical Setup: Bullish Breakout following Breakdown Failure daily, bullish weekly and monthly.
Option Strategy: Short Naked Puts (SP).
Stop Loss: $82.98.
Below is a daily chart of Broadcom Limited (AVGO).
Trade: Provided it does not gap above $242.50, consider shorting Oct (10/20) $255/265 bear call spread (17 DTE) for mid-point but limit of $.65/share (closed at $.70/share).
Technical Setup: Bearish Engulfing Bar and Sell Setup at declining 20-MA daily.
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $253.12.
Adjustments and Comments on Open Advisory Letter Trades Note: Our Trade Updates are timely posted in a separate Report in the Member’s Area. Please see that document for a current reflection on all Open and Closed Trades since the spreadsheet updates immediately and will always be more current than this e-mail update. Thank you.
NOTE: Please see Master Trader Guidelines for Trading the Open and Gaps in Member’s Area for rules on trade entry, gaps, etc.
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
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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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NOTE: Master Trader will show opening and closing prices of all stock and option trades. We do not recommend proper share size for your particular trading style, risk tolerance, or account balance. We urge you to calculate your own share size based on your individualized risk parameters, Trading Plan, and familiarity with the proposed trade strategy and risk.
NOTE: Master Trader and its representatives might have existing positions in these and other trade recommendations before or after suggested herein. Additionally, we often manage them differently for internal purposes based on different risk parameters than noted herein.
