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Greg Calderone's S&P 500 E-Mini Trade

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Greg Calderone suggested on Bloomberg Markets that investors should consider a bullish options strategy in the E-Mini S&P 500 futures. He noticed the S&P 500 has bounced off its 200-day moving average three times just throughout August so he wants to use the indicator to figure out the support level.

To make a bullish bet, Calderone wants to sell the December $2,850 put for $44 and buy the December $3,025 call for $51. The trade would cost him $7 and it breaks even at 3,032. Calderone thinks that the 2,850 level in the S&P 500 is strong support and he said that JPMorgan analysts revealed that a break above 3,025 would lead the S&P to 3,050 or 3,070.

 

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Posted-In: Bloomberg Markets Greg CalderoneLong Ideas Futures Options Markets Media Trading Ideas