On CNBC's "Options Action," Tony Zhang spoke about a bullish options trade for the cannabis sector. It had a pretty volatile week and for investors who are looking for some of that action, Zhang sees ETFMG Alternative Harvest ETF MJ as a way to get exposure.
The implied volatility in the name is very high, so Zhang wants to sell a put spread to make a bullish bet. Specifically, he wants to sell the March $25/21 put spread for a net credit of $1.85. The trade starts to lose money at $23.15, or 5.66% below the closing price on Friday. If the stock drops to $21 or lower, the trade would reach its maximal loss of $2.15.
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The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!