A trader made a big bet this morning on a rally in shares of Cardinal Health ( CAH ). At 10:15 this morning, a lot of 9,800 contracts of the March 45 call changed hands, against open interest of 114 contracts. That trade and several others today moved high in the bid-ask spread, indicating that these new contracts are being initiated from the buy side.
InvestorsKeyhole Trade Alert
IK-> The technicals for CAH ($44.44 up $0.31) are bearish with a downward trend. The stock has support around $42.50. Look at the Feb. 35/37.50 bull-put spread for a 20-cent credit. That's an 8.7% return and the stock has to fall by 15.6% 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.
