You are enjoying two weeks Master Trader’s new Weekly Options Trader!
It is designed for the active trader wanting to generate weekly income from high probability short-term option selling.
Because of the ease of the strategy and statistical “edge” that exists in selling options around Master Trader’s compelling chart patterns, these trades are available in all market environments – trending, choppy, or even a volatile mess.
Below is a daily chart of SPDR S&P 500 ETF (SPY), $244.63.
Trade: Consider shorting Sep (9/1) $246/248 bear call spread (9 Days to Expiration) for a limit of $.60/share or better (currently $.62/share).
Technical Setup: Bearish Gap into Bullish Wide Range Bar after Breakdown and retracement on daily chart.
Option Strategy: Bear Call Credit Spread (BCS).
ROI if Expires Worthless: 43% ($.60/1.40).
Stop Loss: $246.02.
Below is a link to individual videos explaining in greater detail the definitions of the main option trading strategies used in the Master Trader Option Strategies Series for Investors and Active Traders to generate wealth and income.
Description of Master Trader Directional and Income Option Trades can be seen HERE
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
Chief Options Strategist
Follow Greg on Twitter, YouTube, and StockTwits to get real-time updates and education:
Twitter: @GregCapra
Stocktwits: Greg_Capra
youtube.com/c/mastertrader (please subscribe to receive all the timely stock market updates)
