Wednesday, October 4, 2017

New Spread Trade in Bank of America

Hello

Earlier today, KDK Options executed a spread trade in Bank of America. A straddle ( 1 put and 1 call) were purchased for the Nov 3rd $24.50 put and $26.50 call. The cost of the trade was $0.56 before fees and commissions. The expectation is for the trade to reach $1.50. A stop loss has been set. Some reasons for the trade are below:

- Broke out of range to the upside

- Support is at $23.00

- Earnings are later this month

- Rate increase discussion continues

** 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. If you would like up to the moment communication on KDK Options trades, email at kdkoptions@gmail.com **

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