Trade Ideas
UOA PRO New Trade Idea CSCO 8-10
2,000 14August 132 calls bought for 2.44 above open interest of 340 contracts; 4,000 14August 137 calls sold for 1.22 above open interest of 10 contracts. EPS 08/12 after close. Stock 124.19.
New Trade Idea
Ticker: CSCO
Stock: 124.19
Trigger: 124.71
Expiration Date: 14AUG
UOA: 2,000 14August 132 calls bought for 2.44 above open interest of 340 contracts; 4,000 14August 137 calls sold for 1.22 above open interest of 10 contracts. EPS 08/12 after close. Stock 124.19.
CSCO $123.71 Last.
Small front week OTM call vertical that trades just a few sessions in front of EPS. Charts look very good aside from persistent OBness in the very Big Picture chart. On the Daily though, the stock, after a strong spring run, has consolidated nicely for months to this point so it should be rested if the Gang wants go get it running again. Could have a little scamper in front of the release, there’s enough time for one.
Trigger: $124.71, today’s current high.
Strategy 1: Consider the CSCO 14Aug. 125.00-140.00 call spread for $4.10 projected at trigger level today. Uncappable. Naturally, IVs are very elevated in the front week+ with EPS looming so factor that in IF electing to remain in for the EPS reaction.
Targets: 130.37