Below is a daily chart of SPDR S&P Biotech ETF (XBI).
Trade: Over $101.17, consider shorting Jul (7/20) $99/94 bull put credit spread (5 DTE) for mid-point but limit of $.42/share (closed at $.50/share).
Technical Setup: Bullish consolidation at Major Resistance after 100% retracement and higher low on the daily, bullish narrow range bar at high end of bullish engulfing above r20-MA on the weekly chart.
Option Strategy: Bull Put Credit Spread (BPCS).
Stop Loss: $98.72.
Below is a weekly chart of Burlington Stores, Inc. (BURL).
Trade: Over $151.43, consider shorting Jul (7/20) $148/143 bull put credit spread (5 DTE) for mid-point but limit of $.45/share (closed at $.55/share).
Technical Setup: Master Trader Buy Setup and Bottoming Tail in strong uptrend weekly, +WRB deep into resistance on the daily chart.
Option Strategy: Bull Put Credit Spread (BPCS).
Stop Loss: $147.97.
Below is a daily chart of VMware, Inc. (VMW).
Trade: Over $156, consider shorting Jul (7/20) $152.5/148 bull put credit spread (5 DTE) for mid-point but limit of $.50/share (closed at $.60/share).
Technical Setup: Pull back to Minor Support and consolidation above r20-MA after Pro Gap on the daily chart.
Option Strategy: Bull Put Credit Spread (BPCS).
Stop Loss: $152.48.
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Trading the Pristine Method — Origin and End
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