Trading weekly or monthly stock options is a great way to supplement your intraday trading. Here’s three examples from this week that I did on Colgate-Palmolive (CL), Canadian Solar (CSIQ) and Coca-Cola (KO).

Trading Weekly Stock Options

Here are the three trades I did this week, while waiting on intraday setups. By supplementing with the stock options, I do not feel the pressure to constantly be in a particular market. Instead, I focus on the setups and take what I consider to be a high probability trade.

First, Coca-Cola (KO), indicated a bearish divergence on the daily chart. Anticipation was that price would go down. I bought an option put for 53.50. Within two days I took profits.

Second, I saw that Colgate-Palmolive (CL), was oversold with a pivot low formation. I bought an option call at 74 and then sold it within 48 hours for profit.

Third, I noticed that Canadian Solar (CSIQ) was at the congestion dot with bullish divergence so I bought an option call at 21.50. This morning I took profits.

Trading Weekly and Monthly Stock Options
Charts

Starting next week, we will be reviewing how to incorporate trading weekly stock options with your trading plan in the coaching sessions.