Below is a daily chart of Netflix, Inc. (NFLX).
Trade: Over $321.00, short May (5/11) $305/295 bull put credit spread (5 DTE) for a limit of $.65/share (closed at $.73/share).
Technical Setup: Bullish consolidation in top half of last week’s Bearish Wide Range Bar (-WRB) with price void above on breakout daily, relative strength to sector.
Option Strategy: Bull Put Credit Spread (BPCS).
Stop Loss: $307.48.
Below is a daily chart of Red Hat, Inc. (RHT).
Trade: Over $166.35, consider shorting May (5/11) $160/155 bull put credit spread (5 DTE) for a limit of $.50/share (closed at $.57/share).
Technical Setup: Breakout daily, strong uptrend all time frames, relative strength.
Option Strategy: Bull Put Credit Spread (BPCS).
Stop Loss: $160.78.
Below is a daily chart of VMware, Inc. (VMW).
Trade: Over $134.75, consider shorting May (5/11) $130/125 bull put credit spread (5 DTE) for mid-point but a limit of $.70/share (closed at $.75/share). Note: higher risk since spready/illiquid.
Technical Setup: Breakout from bullish consolidation above r20-MA after Pro Gap and breakout daily.
Option Strategy: Bull Put Credit Spread (BPCS).
Stop Loss: $130.88.
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