Markets
SQ

Option trader bets that Square will pay off

Someone made a big bullish options bet on Square Inc. ( SQ ) Tuesday morning. At 10:30 a.m., a lot of 20,000 contracts of the June 39 call crossed the tape, against open interest of 684 contracts. The price was high in the spread, which indicates that these new contracts were bought to open.

InvestorsKeyhole Trade Alert

IK-> The technicals for SQ ($45.90 up $1.79) are bullish with an upward trend. The stock has support about $39.60. Look at the March 36/38 bull-put spread for a 20-cent credit. That's an 11.1% return and the stock has to fall by 17.2% 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.

In This Story

SQ

Other Topics

Options