Trade Ideas
UOA PRO Update FLY 8-4
9,400 07August 25 calls bought in mostly one order for 0.55 above open interest of 181 contracts. Fourth upside trade on Log over the last week. Stock 23.30-23.45.
Status Update
Ticker: FLY
Stock: 23.73
Expiration Date: 14AUG
UOA: 9,400 07August 25 calls bought in mostly one order for 0.55 above open interest of 181 contracts. Fourth upside trade on Log over the last week. Stock 23.30-23.45.
FLY $23.45 Last.
Large front week slightly OTM call buy. Like many stocks that were rocked hard, FLY is lifting from last week’s lower low and retracing part of the move lower in front of EPS. Charts turning for better as a result and there’s definitely potential here to run to near the 200 IF the market keeps squeezing higher, possibly, after a short pause due to ST OBness.
Trigger: $23.87 today’s current high.
Strategy 1: Consider the FLY 14Aug. 22.00 calls for $3.65 projected at trigger level today. Have to go where the liquidity is and that forces out to next week’s which appear to be EPS-Inclusive BUT that may help keep them from getting clobbered by time although it does make them IV pricier and riskier in that sense. Poor book overall.
Targets: 27.51 (200 SMA currently)