Our Hot Money monitor triggered a bullish alert in Tronox Holdings (TROX).
We're seeing upside positioning the last two days in the December expiration with a institution buying the $25/$30 call spread.
It was rumored 10 days that Apollo group had a bid to buy the company at $27 per share. It hasn't been confirmed, but we could see white knight come in and bid a higher price.
Here's what I'm doing…
Buy-to-open the TROX December 17, 2021, $25/$30 call spread
At last glance, this is trading at $1.65 per spread.
Let’s manage our risk before entry and I’ll keep you updated every step of the way.