Stocks in the financial industry have shown up on the radar. KDK is currently looking at March and April call options for Morgan Stanley and JP Morgan.
Morgan Stanley's stock is currently priced at $30.36. The stock looks like it bottomed short term twice at $29.00. Today it left a transitional doji star on the daily chart. A 68% retracement from the recent fall from $33.50 to $29.00 would land the stock at $32.06. A W formation (double bottom formed) would land the stock at $32.10.
Morgan Stanley has also been involved in Tesla bond issues which makes KDK Options think that the business is going well.
For these reasons, KDK Options purchased the March $32.00 call option. The trade cost $0.17 before commissions and fees. KDK Options is looking for the option to reach $1.00.
** This blog is used for informational purposes only. It should not be used as a recommendation to buy or sell any security. Do your own due diligence before trading or investing. **
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