Below is a daily chart of Energous Corporation (WATT).
Trade: Consider shorting Jan (1/19) $35/40 bear call credit spread (21 DTE) for a limit of $.65/share (currently $.50/share but extended intra-day and want price improvement).
Technical Setup: Breakdown hourly and Climactic Sell Setup daily, time decay trade with high 154% Implied Volatility.
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $33.52 to start.
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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