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Kevin Kelly's Salesforce Options Strangle Trade

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Kevin Kelly of Recon Capital Partners spoke on Bloomberg Markets about an options trading idea for salesforce.com, inc. (NYSE: CRM).

He said options for salesforce.com are very cheap at the moment, and he thinks it would be a good idea to buy a strangle in the name.

Kelly wants to buy the June 80 put for $3.20 and the June 87.50 call for $3.10. The strangle would cost him $6.30 and he is going to make money if the stock jumps more than 13 percent, above $93.80, or if it drops more than 11 percent, below $73.70.

Posted-In: Bloomberg Markets Kevin KellyOptions Markets Tech Media

 

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