Trade Ideas
UOA PRO New Trade Idea GLW 8-10
13,000 20November 140 calls bought for 38.20 above open interest of 376 contracts; 10,000 18September 115 calls sold for 48.01 below open interest of 10,254 contracts. Stock 163.03.
New Trade Idea
Ticker: GLW
Stock: 163.03
Trigger: 167.89
Targets/Resistance: 172.02, 178.74, 184.03, 187.88, 192.38, 196.17
Expiration Date: 28AUG
UOA: 13,000 20November 140 calls bought for 38.20 above open interest of 376 contracts; 10,000 18September 115 calls sold for 48.01 below open interest of 10,254 contracts. Stock 163.03.
GLW $163.21 Last.
Large call roll out to Nov. but staying with ITMs. Stock suffered through a serious multi-month pullback to below the 200 SMA after topping out at over $270 per share. However, the past 2 weeks it has tried to flip the script and working its way back up through the SMAs with only 2 remaining to the north.
Trigger: $167.89, today’s current high.
Strategy 1: Consider the GLW 28Aug. 170.00-195.00 call spread for $7.10 projected at trigger level today. Uncappable. End of month Starter Kit call vertical.
Targets: 172.02 (100 SMA currently), 178.74 (50 SMA currently), 184.03, 187.88, 192.38, 196.17