After completing a strong run in the first half of September, MA is now pulling back and retracing a part of those gains. However as it comes into the 660 area it will retest the 20 day moving average along with previous resistance from August.
I am expecting buyers to step in at lower prices as they initially missed their chance to get in on the strong run. Because of this I like bull put spreads, but only as we touch the 20 day moving average.
I would recommend starting with 1/2 position size and then adding if we go and break 660.
Remember, this trade isn’t ready yet, wait for a pullback into the 20 day moving average (currently at 666.67!) before you get into the trade.