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Steve Sosnick's Sprint Options Trade

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Speaking on Bloomberg Markets, Steve Sosnick of Interactive Brokers suggested that traders should consider a bearish options strategy in Sprint Corp (NYSE: S).

He thinks that the stock is getting tired and he wants to sell the May 8/9 call spread for a credit of $0.40. If the stock stays below $8, he is going to collect the whole premium. The trade starts to lose money above $8.40 and it can maximally lose $0.60.

Posted-In: Bloomberg Market Steve SosnickOptions Markets Media

 

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