Call buyers are looking for a turnaround from Johnson & Johnson ( JNJ ). So far, 1,862 contracts of the Feb. 140 call have changed hands, against open interest of 920 contracts. Pricing on today's trades has been high, indicating that these new contracts are being opened from the buy side.
InvestorsKeyhole Trade Alert
IK-> The technicals for JNJ ($129.49 up $1.19) are bearish with a downward trend. The stock has support around $127.60. Look at the Jan 110/115 bull-put spread for a 20-cent credit. That's a 4.2% return and the stock has to fall by 11.2% to cause a problem. [InvestorsKeyhole, various news and data services]
Originally published on InvestorsObserver.com