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Steve Sosnick of Timber Hill spoke on Bloomberg Markets about an options trading idea in General Motors Company (NYSE:GM).
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He wants to sell the April 7th, 35 strike calls and buy the April 7th, 37 strike calls in the name for a total credit of $0.70. If the stock closes below $35 at the April 7 expiration, he is going to make the maximal profit of $0.70. Potential loss is capped by the purchase of the April 37 call and he can maximally lose $1.30, in case General Motors jumps to $37 or higher.
Crypto Whales Are Loading Up — Are You?
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.