A Sept 28th $47 put and an Oct 5th $50.00 call have been purchased. The cost of the trade was $1.15 before fees and commissions. The expectation is that the trade will reach $2.00 by expiration. A stop loss plan has been initiated. Some reasons for the trade are below.
- A converging triangle is happening on the chart
- Earnings discussions and estimates are starting to happen.
- Federal Reserve decision coming up
- Downtrend banging on resistance
** 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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