Sidewinder Update: Navistar International (NYSE: NAV)

By Karla Yeh,

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An investor bought 5,000 January 45-60 call spreads in Navistar International Corp. (NYSE: NAV )  in a moderately bullish play. At 10:21 a.m. EST, the January 45 calls crossed the tape at $4.70 per contract (closer to the ask price at the time), and the January 60 calls traded at $1.35 per contract (a nickel off the bid price). Investors are calling for later-term upside in this bull call spread. NAV shares dropped 21 cents to $38.99 during the first hour of trading. The company did not announce any news this morning, and has not announced an earnings release date. The market anticipates the quarterly report around March 11.

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

This article appears in: Investing Options
Referenced Stocks: NAV

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