Todays Ideas

A few possible trade set-ups heading into todays session.

$JNK continues to look ripe for downside.  Momentum is trying to turn as evidence of the last two days of trading action.  Also a shorter term topping pattern looks to be in place.

DEC monthly  $36.50 puts offer a high risk/reward trade on potential downside.  A move like we saw at the start of November would turn these options into 300-400% gains.

$XLE continues to show strength and yesterday broke back over $70.  While it wasn't able to hold the early gains a  possible bullish scenario could be playing out into 2018.  One that puts $XLE over $80 in the first part of the new year.

Jan 2018  $72 calls are $.50 offering both time and value for a potential breakout into the mid- $70's over the next few weeks.

Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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