Trade Ideas
UOA PRO New Trade Idea BAC 8-17
53,300 18December 60 puts bought for 1.66 above open interest of 5,482 contracts; 53,300 18December 70 calls sold for 1.37 above open interest of 5,513 contracts. Stock 64.13.
New Trade Idea
Ticker: BAC
Stock: 64.13
Trigger: 63.81
Targets/Resistance: 62.79, 59.83
Expiration Date: 18SEP
UOA: 53,300 18December 60 puts bought for 1.66 above open interest of 5,482 contracts; 53,300 18December 70 calls sold for 1.37 above open interest of 5,513 contracts. Stock 64.13.
BAC $64.00 Last.
Massive Dec. set ostensibly bearish combo. XLF has been acting well and even looked OK earlier today but as with much of the rest of the market, it’s starting to look concering. Getting this in as we need bears.
Trigger: $63.81, Friday’s low.
Strategy 1: Consider the BAC 18Sept. 65.00 puts for $2.25 projected at trigger level today. Starter Kit.
Targets: 62.79 (20 SMA currently), 59.83 (50 SMA currently)