Hey traders! How are you?! Have you had an amazing last few days in the markets? Some wild moves and pre markets gaps have made day trading and option selling a fun and profitable endeavor. 

Headed back home to Nashville, TN from Los Angeles right now and I noticed this exciting pattern on GOOGL. Well, I didn’t just notice it. It’s been on my radar for a LONG time. I love trading GOOGL. In fact, it’s one of the few stocks I’m always bullish on. 

GOOGL has formed a nice channel over the last dozen months and change. Some very strong pivot prices coming in around $700 as support and $780 as resistance. Well, GOOGL is now at the $700 support again. 

At these levels, one could consider any of the bullish strategies out there. I would suggest whichever strategy you have the most experience with. Buying options, selling options, a combination or simply buying shares. 

Either way, my consideration at this point is bull put spreads. My good buddy Brian is in some (as you can see from the chart) and many others hoping into some bull put credit spreads at these levels. Unless GOOGL closes below $695, I wouldn’t be particularly concerned, stressed or worried about these spreads. Just make sure they are expiring before earnings (unless they are very far way). 

Trading is simple but hard. Always keep that in mind. The most simple approaches, analysis, plans and strategies often will win in the long run. If you have any questions on any GOOGL set up, feel free to post them below or email me anytime. jerremy@reallifetrading.com

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