Stocks are rallying from yesterday’s shake out and our newest new buy alert is looking to breakout to new 52-week highs in the coming days.
We’re going to play this stock differently today.
Typically, we use a single option, but today we are going to use a vertical spread.
Here's what we're doing…
Action to Take:
- Buy-To-Open the Dana Incorporated (NYSE: DAN) Feb. 19, 2021, $21/$23 call vertical up to $0.70 per contract or better, for the day.
To create this spread:
Buying-to-open Feb. 19, 2021, $21 call (DAN210115C00021000)
Selling-to-open Feb. 19, 2021, $23 call (DAN210115C00023000)
You can also call your broker and say, "I want to Buy-To-Open Dana Incorporated (NYSE: DAN) Feb. 19, 2021, $21/$23 call vertical up to $0.70 per contract or better, for the day."
This new bullish signal triggered after a new $20 million New Money bet, which is a 4,500% surge in new call options purchased.
If shares of Dana Incorporated (NYSE: DAN) soar higher in the coming days, our call spread would quickly increase into a double or triple-digit gain!
Now, I’m looking forward to closing out profits from this quickly.
And I’ll be keeping you updated every step of the way.
To your wealth, freedom, and options!
Joshua M. Belanger