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Scott Bauer's Bullish Foot Locker Trade

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Scott Bauer of Prosper Trading Academy shared with the viewers of Bloomberg Markets his bullish options trade in Foot Locker, Inc. (NYSE: FL). He thinks it's trading at a major support level and he wants to open a long position ahead of Friday morning earnings report.

Bauer wants to buy the May 56/60 call spread for $1.25. The trade breaks even at $57.25 or 5.63 percent above the current stock price. If the stock trades to $60 or higher at the May expiration, the trade is going to reach its maximal profit of $2.75.

 

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Posted-In: Bloomberg Markets Scott BauerOptions Markets Media