Income Trade on Overbought Markets 10-19-17

Below is a daily chart of SPDR S&P 500 ETF (SPY). Trade:   Consider shorting Oct (10/27) $256/258 bear call spread (8 DTE) for a limit of current mid-point of $.38/share or better since extended intra-day Technical Setup:   Bearish Gap from rising extended wedge on...

Weekly Income Trade on Toppy Transport 10-15-17

Closed Trades Week of 10/9/17: We Batted 75% last week, booking a net $1,380 (assuming a 10-lot position sizing). 10/6:  PG – Bought Oct (10/13) $93.5 puts for $1.65/share, sold for $3.50/share for $1.85/share gain. 10/9:  TSLA – Shorted Oct (10/13)...

Income Trade on Overbought Oil Driller 10-13-17

Below is a daily chart of Patterson-UTI Energy, Inc. (PTEN). Trade:   Under $20.43, consider shorting Oct (10/20) $21/23 bear call spread (8 DTE) for $.25/share or better. Technical Setup: Breakdown after breakout failure daily, and Sell Setup, Topping Tail, and...

Trading AMZN Breakout With a Cushion 10-12-17

Below is a daily chart of Amazon.com, Inc. (AMZN). Trade:  Consider shorting Oct (10/20) $960/950 bull put spread (8 DTE) for current mid-point of $.55/share or better. Technical Setup:   Breakout daily/weekly after 100% Retracement and consolidation at Major...