Market Overview

Mike Shapiro's Bullish Red Hat Trade


Mike Shapiro of MWS Capital Consultants spoke on Bloomberg Markets about a bullish options trade in Red Hat Inc (NYSE: RHT).

The stock is trading well below its highs and Shaprio thinks that it might recover. To make a bullish bet, he wants to buy the January 130 call for $5.30. The trade breakevens at $135.30 or 9.52 percent above the closing price on Monday. Shapiro explained that with this trade he is trying to take advantage of the sell-off in a high-quality technology name.

Posted-In: Bloomberg Markets Mike ShapiroOptions Markets Media


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