Below is a daily chart of McDonald’s Corp. (MCD).
Trade: Consider shorting Oct (10/20) $160/165 bear call spread (25 DTE) for around current mid-point of $.69/share.
Technical Setup: Breakout Failure at highs, then Retest & Failure into –WRB daily, bearish rounding top weekly, and Climactic Sell Setup (CSS) monthly.
Weekly:
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $160.12.
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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