Verizon - unlimited calling plan - calls for a Bear Call Spread

OK back to posting - Verizon, my cell phone company, has offered up a new plan. One that is great for customers but most likely bad for business as it will most likely start a new pricing war among the cell phone companies.

According to MarketWatch - Verizon Communications (VZ) NewsBite - Verizon Unveils Unlimited Calling Plan - Verizon has shown weakness since November and it is definitely showing technical weakness that will continue. The stock has a very strong resistance point just below $40.  MarketWatch is recommending a hedge play of an April bear call credit spread above this resistance point, in which I agree.