Sell the Feb 16 SHOP 100/95 Put Credit Spread for $0.65 or better, for a 13% (not counting commissions) return within 35 days. Stop loss should be if the spread increases to $1.30.
SHOP has held the 61.8% retracement of the Sep 17 high to Oct 17 low and is clearing the way for higher moves. Playing it with selling a put credit spread and receiving $65 for every $5 wide contract sold, for a potential 13% Return on Risk over 35 days.
Happy Trading
Lindosskier
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With 4 trading days left till this option spread expires, it is safe to say that we should be able to keep the whole credit we received when we opened the position. Unless SHOP drops by 27% or more, by Friday!
Despite the market wild swings, the fact is that finding strong stocks still pays off.