Markets

Traders bet Vale will rebound

Option traders are betting Thursday that Vale S.A. ( VALE ) will get back to its recent uptrend. So far, 10,032 contracts of the Jan 2020 20 call have changed hands, against open intrest of 882 contracts. The bulk of today's volume was in a single lot of 8,828 contracts that crossed the tape at 11:03 this morning. That trade went off at the sk, indicating it was initiated from the buy side.

InvestorsKeyhole Trade Alert

IK-> The technicals for VALE ($12.67 down 0.47) are bullish with a neutral trend. The stock has support about $12.20. Look at the June 9/11 bull-put spread for a 27-cent credit. That's a 15.6% return and the stock has to fall by 13.2% 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.

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