Our Hot Money Tracker has a new buy alert that has triggered.
We're seeing an increase in call options traded in Bank of America Corp. (NYSE: BAC) in the last hour.
Hot Money is making a move in the December 13, 2019, $33.50 call, which means they are looking to profit on prices soaring higher in the coming hours.
Here's what we're doing...
We're buying to open the Bank of America Corp. (NYSE: BAC) December 13, 2019, $33.50 call up to $0.18 per contract or better, for the day.
Action to Take:
- In your brokerage account, locate the BAC December 13, 2019, $33.50 call:
- The symbol is BAC191213C00033500.
- Search for options under the stock ticker: BAC.
- Make sure you choose the right options expiration (expiring on December 13, 2019).
- Choose the $33.50 strike price.
- Select "calls" options. Select how many contracts to buy.
- Once you have the right contract, click "buy to open."
- Choose "limit order." (This sets the max price you'll pay per contract).
- Use a limit of $0.18 per contract.
- Click "Day" for TIF (Time In Force).
- Then click "buy" to transmit the order.
You can also call your broker and say, "I want to buy to open BAC December 13, 2019, $33.50 call with a $0.18 limit or better; for the day."
If Hot Money is right that shares of Bank of America Corp. (NYSE: BAC) prices will soar higher in the coming days., our calls would quickly increase into a double or triple-digit gain - giddy up!