Below is a daily chart of Facebook, Inc. (FB).
Trade: Consider shorting Sep (9/22) $170/160 bull put spread (11 Days to Expiration (DTE)) for around current mid-point of $.70/share.
Technical Setup: Breakout of Major Resistance on daily chart and negating Friday’s bearish bar.
Option Strategy: Bull Put Credit Spread (BPS).
Stop Loss: $170.78.
Below is a daily chart of Kansas City Southern (KSU).
Trade: Consider shorting Sep (9/29) $101 naked puts (18 DTE) for around current mid-point of $.60/share.
Technical Setup: Breakout daily from Major Support on daily chart.
Option Strategy: Bull Put Credit Spread (BPS).
Stop Loss: $102.98.
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.
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
Follow Greg on Twitter, YouTube, and StockTwits to get real-time updates and education:
Twitter: @GregCapra
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