Bull Flag in FSLR

[Steven Place]

After a MASSIVE move higher, FSLR has been basing out.

What this means is that higher prices are being accepted by the market.

Can it head higher? Sure, but it could also just fart around in a new range for a while.

The bet here is that it won’t go much lower.

So I like bull put spreads here.

Sell to Open FSLR May 65/60 Bull Put Spread for 1.20 or better

If the stock loses 65 then we will roll down to lower strikes.

[Steven Place]

We’ve picked up almost half of the total credit in the trade, but it keeps hitting this support level, that if broken will wipe out our gains.

Put a stop at 66.30.

[Author]

Posts