Below is a daily chart of Best Buy Co., Inc. (BBY).
Trade: Provided it opens below $72.00, under 5-Min. low consider shorting Apr (4/20) $77.5/82.5 bear call credit spread (38 DTE) for a $.50/share (closed at $.52/share).
Technical Setup: Breakdown following bearish island reversal daily.
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $77.32.
Below is a daily chart of Owens Corning (OC).
Trade: Under $83.17, consider shorting stock.
Technical Setup: Sell Setup and Topping Tails at Resistance and 20-MA daily.
Stop Loss: $84.62.
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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.
