In the trader tip video, Brian talks about the ELI LILLY ticket symbol LLY. It’s a beautiful looking chart for LLY, one that we are not seeing too many of in this bearish market. LLY recently had a breakout above the area around three twenty. One way to play this with some margin of safety would be to do a Put Vertical Credit Spread.
This is where we would be selling an out-of-the-money put below that three-twenty level. And we would want to buy a lower strike and turn this into a spread so that we can have risk on the trade. We are also looking at the 29th of July expiration, closing that trade before that earnings report on August 4th.
TO LEARN MORE ABOUT THE LLY TRADE SETUP – WATCH THE VIDEO
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Disclaimer: None of this material is meant to be construed as investment advice. It is for education and entertainment purposes only. The video is accurate as of the posting date but may not be accurate in the future.