NEW TRADE IDEA: 8/2: THO – Consider shorting Aug (8/17) $90/85 bull put credit spread (14 DTE) for $.75/share or better (current mid-point is $.65/share but spready). Bullish retest and +WRB after breakdown daily, monthly support. Stop $90.18.
NEW TRADE IDEA: 8/1: ITA – Consider shorting Aug (8/17) $200/197 bull put credit spread (17 DTE) for current mid-point of $.35/share. Breakout daily/weekly after consolidation from 100% retracement. Stop $201.68.
NEW TRADE IDEA: 8/1: TEAM – Consider shorting Aug (8/17) $70/60 bull put credit spread (17 DTE) for mid-point $.65/share. Pull back from Pro Gap Breakout to all-time highs and reversal bar daily, breakout hourly. Stop $70.49.
The 2018 trading year was full of erratic price action in the broader markets. We define erratic by wider range bars that overlap each other. They tend to have tails at the extreme of the ranges and candles that historically give a meaningful signal that have little...
NEW TRADE IDEA: 7/27: LRCX – Consider shorting Aug (8/17) $170/150 bull put credit spread (21 DTE) for current mid-point of $.60/share. Pro Gap breakout and +WRB on earnings from multi-week consolidation of support daily. Stop $170.43.