Below is a daily chart of Kandi Technologies Group, Inc. (KNDI).
Trade: Consider shorting Jan (1/19) $8 naked puts (14 DTE) for a limit of $.50/share (or better since extended daily). Over the next 1-2 trading days, we will also look to add a bullish directional trade.
Technical Setup: Breakout daily/weekly/monthly.
Option Strategy: Short Naked Puts (SP).
Stop Loss: None for now, if expires ITM, accept stock because we want as core long and assignment will give us a cost basis of $7.50/share.
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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