OptionsPlay DailyPlay

The bullish DailyPlay we chose for Tuesday Oct 16th is Pfizer (PFE). PFE is part of the Healthcare Sector (XLV). Over the last month, XLV has experienced a 3.30% move lower and its 1m and 6m trend has turned bearish on 10/10 but recently bounced higher off its $90 support level after being oversold.

Pfizer’s 1m and 6m trends turned bullish yesterday and recently bounced higher off its $43 support level. With a technical score of 9 (out of 10), PFE is a bullish stock that is likely to continue higher.

View this Trade Idea on PFE

As a stop loss, if PFE was to trade below $43 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

Learn to Trade Options: How to Maximize your Debit Spreads – Thurs 10/18 @ 4:15PM EST