Below is a daily chart of General Electric Company (GE).
Trade: Over $20.07 (hourly -WRB), consider shorting Nov (11/17) $19.5/17.5 bull put spread (14 DTE) for mid-point (currently $.35/share). Income Trade with high 97% Implied Volatility Rank.
Technical Setup: Climactic Buy Setup and Bottoming Tail daily with monthly support.
Option Strategy: Bull Put Credit Spread (BPS).
Stop Loss: $19.58.
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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