Someone made a big bet on International Paper ( IP ) Wednesday. A lot of 1,000 contracts of the July 60 call traded a minute after 1 p.m. this afternoon, against open interest of 300 contracts. That trade moved high in the spread, indicating it was initiated from the buy side.
InvestorsKeyhole Trade Alert
IK-> The technicals for IP ($58.09 up $0.02) are neutral with an upward trend. The stock has support about $57.30. Look at the April 50/52.50 bull-put spread for a 22-cent credit. That's a 9.6% return and the stock has to fall by 9.6% 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.
