SQ 1-day Income Trade 7-19-18

7/19:  SQ – Consider shorting July (7/20) $69 puts (1 DTE) for $.21/share.  Bullish breakout daily, relative strength, income trade with $1.65/share cushion.  Stop, none, will roll if needed.

IWM Income Trade 7-19-18

7/19: IWM – Over $168.06, consider shorting Jul (7/27) $166/161 Bull Put Credit Spread (8 DTE) for mid-point (currently $.48/share).   Breakout form bullish consolidation on the 20-MA on daily.  Stop $165.95.

New Income Trades With Market Gap Negated 7-17-18

7/17: LRCX – Consider shorting Jul (7/20) $170/165 Bull Put Credit Spread (3 DTE) for around $.55/share (currently $.42/share but want price improvement with expected retracement in stock and market).  Stop Loss:  $170.18. 7/17: LULU – Shorted Jul (7/27) $124/118 Bull...

Weekly Option Trader for 7-16-18

Below is a daily chart of SPDR S&P Biotech ETF (XBI).     Trade:  Over $101.17, consider shorting Jul (7/20) $99/94 bull put credit spread (5 DTE) for mid-point but limit of $.42/share (closed at $.50/share). Technical Setup:   Bullish consolidation at Major...