A trader, or small group of traders, is making a long-term bet Friday on shares of Ally Financial ( ALLY ). So far, 3,000 contracts of the Jan. 2020 call have changed hands, against open interest of 27 contracts. Today's volume was all at 11:43, in one trade of 2,500 contracts and two more of 250 each. All three trades were price high in the spread, indicating they were initiated from the buy side.
InvestorsKeyhole Trade Alert
IK-> The technicals for ALLY ($26.25 down $0.24) are bearish with a downward trend. The stock has support about $25.40. Look at the May 22/24 bull-put spread for a 20-cent credit. That's an 11.1% return and the stock has to fall by 8.6% to cause a problem. [InvestorsKeyhole, various news and data services]
Originally published on InvestorsObserver.com