Trade Ideas
UOA PRO New Trade Idea WFC 8-17
59,500 18December 80 puts bought for 2.02-2.16 above open interest of 6,433 contracts; 59,500 18December 100 calls sold for 1.51-1.34 above open interest of 3,470 contracts. Stock 87.68-88.09.
New Trade Idea
Ticker: WFC
Stock: 87.67
Trigger: 87.27
Targets/Resistance: 59.00, 50,018.00, 433.00, 50,018.00, 470.00
Expiration Date: 18SEP
UOA: 59,500 18December 80 puts bought for 2.02-2.16 above open interest of 6,433 contracts; 59,500 18December 100 calls sold for 1.51-1.34 above open interest of 3,470 contracts. Stock 87.68-88.09.
WFC $87.74 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: $87.27, 20 SMA currently.
Strategy 1: Consider the WFC 18Sept. 87.50 puts for $2.25 projected at trigger level today. Starter Kit.
Targets: 85.75 (50 SMA currently), 84.97 (200 SMA currently), 83.43 (150 SMA currently)