Below is a daily/weekly chart of Allergan plc (AGN).
Trade: Consider shorting Dec (12/15) $170/162.5 Bull Put Credit Spread (16 DTE) for around current mid-point of $.80/share.
Technical Setup: Pro Gap Breakout daily from multi-week consolidation daily, CBS weekly.
Option Strategy: Bull Put Credit Spread (BPS).
Stop Loss: $169.98.
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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