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Benchmark Investments' Kevin Kelly spoke on Bloomberg Markets about an options strategy in Prologis Inc (NYSE:PLD).
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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Kelly wants to buy the stock and get the dividend.
Additionally, he wants to sell the January 70 call for $0.80, which is 1.2 percent of the current stock price. It gives him protection in case the stock trades lower. If it stays at its current levels or moves higher, he would add 1.2 percent to the dividend yield. The strike is 4.7 percent above the current market price, so if the stock trades higher he can participate in the move.