Below is a weekly chart of Dynegy Inc. (DYN), $9.80.
Trade: Consider buying Dec (12/15) $7.5 calls (115 DTE) and selling Sep (9/15) $10 calls (24 DTE) for current mid-point of $2.20/share or better since extended daily.
Technical Setup: Breakout daily and weekly, bottoming pattern monthly with price void above.
Option Strategy: Bull Call Diagonal (BCD).
Stop Loss: $8.58.
Below is a daily chart of Control4 Corporation (CTRL), $24.44.
Trade: Over $24.90, consider buying stock. Note: Will look to leg into a Covered Call after an anticipated rally.
Technical Setup: Bullish inside day consolidation following Pro Gap and Breakdown daily, bullish all time frames.
Target: Open.
Stop Loss: $23.48.
Below is a monthly chart of IAMGOLD Corporation (IAG), $5.87.
Trade: Consider buying stock between $5.75 – 5.90. Note: Will look to leg into a Bull Call Diagonal (BCD) after an anticipated rally.
Technical Setup: Bullish breakout all time frames.
Target: Open.
Stop Loss: $5.18.
Below is a daily chart of First Solar, Inc. (FSLR), $45.96.
Trade: Consider shorting Sep (9/15) $50/55 bear call spread (24 DTE) for closing mid-point of $.50/share or better since extended intra-day.
Technical Setup: Breakdown from M Formation daily.
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $50.12.
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
Adjustments and Comments on Open Advisory Letter Trades Note: Our Trade Updates are timely posted in a separate Report in the Member’s Area. Please see that document for a current reflection on all Open and Closed Trades since the spreadsheet updates immediately and will always be more current than this e-mail update. Thank you.
NOTE: Please see Master Trader Guidelines for Trading the Open and Gaps in Member’s Area for rules on trade entry, gaps, etc.
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
Follow Greg on Twitter, YouTube, and StockTwits to get real-time updates and education:
Twitter: @GregCapra
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