Below is a daily chart of Square, Inc. (SQ).

 

Trade:  Over $41.20, consider shorting Jan (1/19) $39/36 Bull Put Credit Spread (9 DTE) for mid-point but minimum of $.31/share (currently at $.37/share).

Technical Setup:   Bullish consolidation and 3 Bottoming Tails after bullish breakout daily, bullish weekly and monthly.

Option Strategy:   Bull Put Credit Spread (BPS).

Stop Loss:  $39.21.

 

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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