This CRWV bull put spread showed up on our scanner this morning. What I like about this trade idea is that the stock had been in a serious downtrend settling lower pivot lows and lower pivot highs until recently. It recently broke through some prior resistance around the $80 level and broke through the downward sloping trendline as seen on the hourly time frame below. To be successful, the prior resistance level now needs to act as potential support if tested. In addition, implied volatility and option prices are elevated above historical levels.
