Trade Of The Week, Potential 300% Return Going Short An Ugly Chart

We’re going to do something a little different this week, up to this point although I’ve been right on 10 out of 11 of these weekly trades, they’ve all be credits whether Im short call spreads or short put spreads. This week I want to go short a name through put spreads. The reason I want to go short is simple

1. The chart is weak for a very long time

2. There is bearish options activity

3. There is a read through from other names who reported weak numbers

4. It was red yesterday as the market was very green.