Below is a daily chart of RH (RH).
Trade: Over $75.00, consider shorting Sep (9/29) $69/65 bull put spread (8 DTE) for mid-point but a limit of $.40/share (closed at $.50/share).
Technical Setup: Bullish Consolidation following Pro Gap daily.
Option Strategy: Bull Put Credit Spread (BPS).
Stop Loss: $67.98.
Adjustments and Comments on Weekly Option Trades
9/21/17: WTW – Shorted Sep (9/29) $40.5 naked puts (9 DTE) for $.25/share. Stop Loss: $41.08.
9/19/17: TSLA – Shorted Sep (9/22) $390/400 bear call spread (3.5 DTE) for $.84/share. 9/20: Close back half for current mid-point of $.04/share for average out of $.08/share (95% of Max Gain in 2 days).
9/18/17: GOOGL – Shorted Sep (9/22) $960/965 bear call spread and sell Sep (9/22) $920/915 bull put spread for $1.35/share. 9/21: Closed at $.15/share to book 89% of Max Gain and eliminate remaining risk.
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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
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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.
