Below is a daily chart of Johnson & Johnson (JNJ).
Trade: Consider shorting Dec (12/15) $137/130 Bull Put Credit Spread (17 DTE) for current mid-point of $.57/share.
Technical Setup: Retracement to r50-MA and Minor Support (mS) daily, and Master Trader Buy Setup, BT and mS on r20-MA weekly.
Option Strategy: Bull Put Credit Spread (BPS).
Stop Loss: $137.18.
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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