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Daily chart of ULTA Salon, Cosmetics & Fragrance, Inc. (ULTA), $266.62.
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Trade: Over $268, we recommend selling 10 Feb $255/245 bull put spread (24 DTE) for a net credit of $1,050 or better (closed with mid-point of $1.15/share).
Strategy: Breakout from bullish consolidation on daily and weekly charts.
Max Gain: Credit Received.
Max Loss: Spread width less credit received, but would be less with stop posted.
Stop Loss: $258.98
source:mastertrader