Bull makes long bet on KKR

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An option trader is making a long-term bet on the recent rally in KKR & Co. ( KKR ), to continue. Lots of 6,000 and 4,000 contracts of the Jan. 2019  $20 call crossed the tape at 10:17 Thursday morning. Both lots moved at or near the ask and previous open-interest in that strike was 342, which indicates that this was fresh buying.

InvestorsKeyhole Trade Alert

IK-> The technicals for KKR ($17.93 down $0.08) are bullish with an upward trend. The stock has support about $17.64. Look at the June 13/16 bull-put spread for a 20-cent credit. That's a 7.1% return and the stock has to fall by 10.8% to cause a problem. [InvestorsKeyhole, various news and data services]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Originally published on InvestorsObserver.com

This article appears in: Investing , Options

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