Call buyers take position in Novartis

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Traders are betting Thursday that shares of Novartis ( NVS ) will continue their rally. So far, 7,433 contracts of the Dec. 90 call have changed hands, against open interest of 115 contracts. Pricing on today's volume has been high in the bid-ask spread, indicating that these new contracts are being bought to open.

InvestorsKeyhole Trade Alert

IK-> The technicals for NVS ($88.15 up $0.69) are bullish with an upward trend. The stock has support around 85.30. Look at the Dec. 75/80 bull-put spread for a 20-cent credit. That's a 4.2% return and the stock has to fall by 9.2% 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
Referenced Symbols: NVS

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