Below is a daily chart of iShares Transportation Average ETF (IYT).
Trade: Consider shorting Dec (12/15) $167/160 bull put spread (24 DTE) for $.95//share (note: higher risk because less liquidity and wider spreads).
Technical Setup: Bullish retest at r200-MA and Minor Support on daily, bullish buy setup above r50-MA on weekly.
Option Strategy: Bull Put Credit Spread (BPS).
Stop Loss: $169.28.
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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