Below is a daily chart of Caterpillar Inc. (CAT).
Trade: Consider shorting Nov (11/17) $139/142 bear call spread (8 DTE) for $.35/share.
Technical Setup: Gap down from Double Top daily after lower high, Climactic Sell Setup weekly and monthly.
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $139.02.
Below is a daily chart of Boeing Co. (BA).
Trade: Consider shorting Nov (11/17) $270/275 bear call spread (8 DTE) for $.40/share.
Technical Setup: Reversal Bar at Major Resistance daily and weekly, climactic monthly.
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $268.22.
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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