Market Overview

I think you’ll love what you hear,
what you’ll see and the opportunities
that will be set before you.
- Jon Najarian
GET TICKETS

Alan Knuckman's Russell 2000 ETF Trade

Share:

Alan Knuckman of Bulls Eye Option spoke on Bloomberg Markets about a trading idea in iShares Russell 2000 Index (ETF) (NYSE: IWM).

He said the stock is lagging behind the S&P 500 and it has been trading sideways since November. It had a false break out a couple of weeks ago and after a move higher to $141.82, it dropped to $138. Knuckman thinks that the $138 price level is an important support and he believes iShares Russell 2000 Index (ETF) is going to bounce off the support and trade higher.

To make a bullish bet, he wants to buy the July 130 call option for $9.15. The trade breaks even at $139.15 or 0.53 percent above the current stock price.

Posted-In: Alan Knuckman Bloomberg Markets Bulls Eye OptionOptions Markets Media ETFs

 

Related Articles (IWM)

View Comments and Join the Discussion!

Vetr Urges Buy On Juno After Earnings

Vetr Upgrades Yum China After Goldman Downgrade