On CNBC's Trading Nation, Todd Gordon suggested that investors should consider a bullish options strategy in Citigroup Inc C.
He explained that the stock is currently trading at its resistance and he believes that it's going to break through the resistance. To set up a along position, he wants to buy the January 60/65 call spread in Citigroup Inc for $1.72. The trade breaks even at $61.72 and it can maximally make a profit of $3.28. If the premium drops to $0.86, Gordon is going to activate a stop loss and close the position.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.