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
**
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