Positioning for New Weekly Income Trades 12-8-17

Below is a daily chart of Ross Stores, Inc. (ROST). Trade:  Over $77.50, consider shorting Dec (12/15) $77.5/75 Bull Put Credit Spread (7 DTE) for current midpoint but with limit of $.75/share (currently $1.05/share). Technical Setup:  Master Trader Buy Setup after...

Income Trade on Overbought RACE “Car” 12-7-17

Below is a daily chart of Ferrari N.V. (RACE). Trade:   Under $103.90, consider shorting Dec (12/15) $106/110 bear call credit spread (7 DTE) for mid-point but limit of $.55/share (closed at $.70/share). Technical Setup:   Bearish consolidation after Breakdown daily,...

Income Trade on CME Breakout 12-6-17

Below is a daily chart of CME Group Inc. (CME). Trade:  Consider shorting Dec (12/15) $144/140 Bull Put Credit Spread (9 DTE) for limit of $1.20/share (current mid-point is $.87/share but extended daily and might get retracement to low $148s and price improvement)....

Earnings Short Strangle on RH 12-5-17

Below is a daily chart of Restoration Hardware (RH). Trade:  Consider shorting Dec (12/8) $81 naked puts and $121 naked calls (3.5 DTE) for around current mid-point of $1.00/share.  HIGHER RISK EARNINGS TRADE (earnings after bell 12/5). Technical Setup:   Bullish...

OSTK a go with higher strikes 12-4-17

12/4: OSTK – Consider shorting Dec (12/8) $40/35 Bull Put Credit Spread (4 DTE) for current mid-point of $.50/share (we had in Weekly Letter last night to short $35/30 into weakness, but the gap up turned it into a Bull Gap Surprise pattern and we didn’t get...