Trade Ideas
UOA PRO New Trade Idea MMM 8-4
7,400 18September 190 calls bought in mostly one print for 2.40 to 2.98 above open interest of 1,672 contracts. Stock 178.92-180.20.
New Trade Idea
Ticker: MMM
Stock: 180.79
Trigger: 181.12
Targets/Resistance: 182.48, 184.90, 186.99, 190.54, 195.05
Expiration Date: 21AUG
UOA: 7,400 18September 190 calls bought in mostly one print for 2.40 to 2.98 above open interest of 1,672 contracts. Stock 178.92-180.20.
MMM $180.65 Last.
Large OTM call buy set in Sept. Stock had a good burst higher over the past month and is stretched from the 200 by quite a bit as a result so these could certainly be a hedge by a trader that believers there’s some reversion potential. However, for now, we’ll treat this as maybe after pulling back over the past week, MMM will join in the market’s Squeeze Play higher.
Trigger: $181.12.
Strategy 1: Consider the MMM 21Aug. 180.00-192.50 call spread for $4.00 projected at trigger level today. Uncappable.
Targets: 182.48, 184.90, 186.99, 190.54, 195.05