Below is a daily chart of Advance Auto Parts, Inc. (AAP).
Trade: Consider shorting Jan (1/19) $80/70 Bull Put Credit Spread (51 DTE) for a limit of $.75/share (closed at $.67/share but is extended hourly).
Technical Setup: +WRB from Bullish Retracement and rounding bottom after Pro Gap daily, CBS monthly.
Option Strategy: Bull Put Credit Spread (BPS).
Stop Loss: $80.38.
Below is a daily chart of Gilead Sciences, Inc. (GILD).
Trade: Over $72.68, consider shorting Dec (12/15) $70.5/67.5 Bull Put Credit Spread (17 DTE) for a limit of $.55/share (closed at $.60/share).
Technical Setup: Bullish Retest daily, bullish weekly and monthly. Will watch for bullish directional trade.
Option Strategy: Bull Put Credit Spread (BPS).
Stop Loss: $70.48.
Below is a daily chart of FLIR Systems, Inc. (FLIR).
Trade: Over $47.56, consider buying Dec (12/15) $45/49 bull call spread (16 DTE) for a limit of $2.55/share (which has at least $.12/share positive time decay).
Technical Setup: Breakout after multi-week consolidation daily and weekly.
Option Strategy: Bull Call Debit Spread (BCS).
Stop Loss: $46.38.
Below is a daily chart of Chipotle Mexican Grill, Inc. (CMG).
Trade: Provided it opens over $282, consider shorting Dec (12/15) $265/250 Bull Put Credit Spread (17 DTE) for a limit of $1.10/share (closed at $1.15/share).
Technical Setup: Bullish +WRB from consolidation daily, Major Support monthly.
Option Strategy: Bull Put Credit Spread (BPS).
Stop Loss: $271.50.
Below is a daily chart of Marathon Petroleum Corporation (MPC).
Trade: Over $62.50, consider shorting Dec (12/15) $61/55 Bull Put Credit Spread (17 DTE) for a limit of $.50/share (closed at $.55/share).
Technical Setup: Breakout after bullish consolidation daily and weekly, bullish monthly. Will watch for bullish directional trade.
Option Strategy: Bull Put Credit Spread (BPS).
Stop Loss: $61.18.
Below is a daily chart of Six Flags Entertainment Corporation (SIX).
Trade: Provided it does not gap over $64.50, consider shorting Dec (12/15) $65/70 bear call spread (16 DTE) for a limit of $.40/share (closed at $.35/share).
Technical Setup: Breakdown from top daily and extended weekly.
Option Strategy: Bear Call Credit Spread (BCS).
Stop Loss: $65.52.
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.
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Greg Capra
Managing Director of Master Trader
Pristine’s Founder and Creator of the Pristine Method
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Chief Options Strategist
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NOTE: Master Trader will show opening and closing prices of all stock and option trades. We do not recommend proper share size for your particular trading style, risk tolerance, or account balance. We urge you to calculate your own share size based on your individualized risk parameters, Trading Plan, and familiarity with the proposed trade strategy and risk.
NOTE: Master Trader and its representatives might have existing positions in these and other trade recommendations before or after suggested herein. Additionally, we often manage them differently for internal purposes based on different risk parameters than noted herein.
