Credit: Shutterstock photoCars.com ( CARS ) is getting some attention from option buyers Wednesday. In particular, 17,996 contracts of the Dec. 40 call have changed hands so far today. Pricing of today's volume has been high, indicating that these new calls were initiated from the buy side.
InvestorsKeyhole Trade Alert
IK-> The technicals for CARS ($26.93 down $1.08) are bearish with a downward. The stock has support around 25.70. Look at the Sept. 22.50/25 bull-put spread for a 40-cent credit. That's a 19.0% return and the stock has to fall by 7.2% 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
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.