In the six month daily chart shown below, we can see that the 50-day simple moving average has been acting as an area of strong resistance. Every time the stock approaches this level, it gets rejected. The 50-day average as of today is currently around $120. And although DG has experienced some upward momentum since mid-October, this upward momentum is now facing resistance once again at the 50-day average.
This is great, because you can construct a $1 wide put spread and risk as little as $50 to make $50 per winning trade. To increase risk, simply add more contracts. Eg. Doing a 50 contract trade would risk $2500 to make $2500. All I need is for DG to drop by $1 by expiration date for this trade to be profitable. Here is the exact trade setup: Buy $120 put Nov 17 expiry Sell $119 put Nov 17 expiry A nice thing about buying ATM (at-the-money) spreads, is that the math becomes very easy.
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