WFM: Interesting long setup viable

180 0 13
8 months ago
We can enter longs in WFM             here, back at weekly mode support, as well as a Key Earnings Level.
Since Vix             is high we can sell puts at the money for easy returns, for instance, December expiry puts or calls.
We can take a long stock/short calls position alternatively, but puts should be a good idea for sure.

Buy/write: 35 strike calls / Jan '17 20th expiry. Determine the amount of shares based on stop distance, risk 0.5-1%.
Write: at the money puts with same expiry.

Good luck!

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Ivan Labrie

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Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.57% on such information.
8 months ago
Comment: Seems promising.
8 months ago
Comment: Relative strength is strong in this one. Market down, WFM goes up and closes above weekly resistance.
6 months ago
Trade closed manually
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