Hamzei_Analytics · @HFT_StockOption
16th May 2013 from TwitLonger
May 16, 2013
Cognizant Technology (CTSH)
Bias: Bearish
Price Target: $58.40
We are bearish on CTSH and want to purchase a put vertical to take advantage of the possible move lower.
Should CTSH hold a double bottom support at $61.00, we will exit with a profit. However, if $61.00 is breached, we will remain in the trade to capture lower prices.
BUY To OPEN 3 Jun-22 CTSH 60 Puts trading at $1.15
SELL To OPEN 3 Jun-22 CTSH 55 Puts trading at $0.35
CTSH is now trading at $63.42
This spread is now trading at $0.80
The total debit of this trade is $2.40
Do not pay over $0.95 per spread
Day Order Only