Below is a daily chart of Texas Instruments Incorporated (TXN).
Trade: Provided it does not open over $97.60 (hourly resistance), consider shorting Dec (12/15) $100/104 bear call credit spread (16 DTE) for around its closing mid-point of $.45/share or better.
Technical Setup: -WRB Breakdown daily, extended weekly/monthly.
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $99.80.
Below is a daily chart of Anadarko Petroleum Corporation (APC).
Trade: Under $47.00, consider shorting Dec (12/15) $49/52 bear call credit spread (16 DTE) for mid-point but limit of $.48/share (closed at $.58/share).
Technical Setup: Breakdown and Topping Tail daily with Price Void below.
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $48.82.
We have FMC on our watch list for BCS:
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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NOTE: Master Trader will show opening and closing prices of all stock and option trades. We do not recommend proper share size for your particular trading style, risk tolerance, or account balance. We urge you to calculate your own share size based on your individualized risk parameters, Trading Plan, and familiarity with the proposed trade strategy and risk.
NOTE: Master Trader and its representatives might have existing positions in these and other trade recommendations before or after suggested herein. Additionally, we often manage them differently for internal purposes based on different risk parameters than noted herein.
