Below is a daily chart of Alibaba Group Holding Limited (BABA).
Trade: Consider shorting Oct (10/27) $180/185 bear call spread (4 DTE) for a limit of current mid-point of $.40/share or better since extended intra-day.
Technical Setup: Breakdown daily after failed breakout, toppy weekly, and Climactic Sell Setup and Topping Tail monthly.
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $180.02.
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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