We have a new buy alert that has triggered.
Our Hot Money monitor just spotted a 400% increase in fresh buying of call option contracts purchased in International Paper Company (IP), betting these will soar higher.
Here's two ways to trade this activity…
Buy-to-open International Paper Company (IP) July 16, 2021, $67.50 Call (IP210716C00067500)
At last glance, these contracts are trading at $0.60 x $0.80 per contract.
But, I'm going to play through a call spread.
I'm going to buy-to-open the July 16, $65 call and sell-to-open the $67.50 call for a $1.08 debit per spread.
Now, let’s manage our risk before entry and I’ll keep you updated every step of the way.