XLB (Materials ETF) has been consolidating for weeks and looks like it's getting ready to make a move higher. With Squeezes on both the Weekly and Daily Chart this looks like a 'set it and forget it' type trade: In a perfect world, I'll be looking for a pullback tomorrow where I can pick up the 58/57 Put Credit Spread: Put Credit Spread Sell 58 Jan Monthly...
He suspected that this was a pivot point. The stock continues to rise after correction.
Roughly 3,800 PX Apr $135 calls were purchased late in the day on Friday for $0.69-$0.80 each (18x the average daily call volume). Shares have bounced off of support at the $120 level and are now setting up for a return to $133-$135 in the intermediate-term. Consider buying the Apr $130 calls or $130/$135 bull call spreads with the plan to take at least partial...