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  • Swing Trade Idea (GIS) – October 10, 2023

    Oct 10, 2023 Swing Options Tips Comments Off on Swing Trade Idea (GIS) – October 10, 2023

    Our bullish trade for Tuesday, October 10th is General Mills Inc. (GIS). GIS is part of the Consumer Select Sector, which has performed at -2.36% over the last week, with GIS performing at 2.21% over the same period.

    GIS found support and broke above a trendline, supported by its sector that also is bouncing higher from support. This area has been a major level of support for 2023, indicating that GIS will continue to bounce higher over the duration of this trade, supported by the direction of its sector.

    As a close, if GIS were to trade below $62 for multiple days, this would invalidate our analysis and we will consider cutting losses on the trade. We will also consider cutting losses on this options trade if the value of the vertical spread moves above $2.90 Debit.

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