Markets

HSBC attracts attention from bulls

Traders seem to be building a position in options on HSBC ( HSBC ) Monday. So far, 1,701 contracts of the Sept. 68 call have changed hands, against open interest of 587 contracts. Today's volume has been in relatively small lots, but the volume is all in the high side of the bid-ask spread and there seems to be more demand for contracts on the ask than on the bid.

InvestorsKeyhole Trade Alert

IK-> The technicals for HSBC ($47.65 up $0.70) are bullish with an upward trend. The stock has support about $44.18. Look at the Sept. 41/44 bull-put spread for a 20-cent credit. That's an 11.1% return and the stock has to fall by 20.3% 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.

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