Two possible outcomes here. Either we flatline near the top between the two resistances. The more likely outcome, is for this recent run to trend lower and hit the ascending support (blue line) once again. Lot of support confluence around the 143.72 line. Selling CALLS looks to be the better play here.

In the world of buying and selling stock options, choices are made in regards to which strategy is best when considering a trade. If an investor is bullish , she can buy a call or sell a put, whereas if she is bearish , she can buy a put or sell a call. There are many reasons to choose each of the various strategies, but it is often said that "options are made to be sold." This article will explain why options tend to favor the options seller, how to get a sense of the probability of success in selling an option and what risks accompany selling options.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.