KeeneOnMarket
Long

LEA has a Date with $91

NYSE:LEA   LEAR CORP
89 4 3
Lear Corporation manufactures, assembles, and supplies automotive seating, electrical distribution systems, and related components primarily to original equipment manufacturers across the world. I watch for Unusual Options Activity and I saw a HUGE Call buyer of the June 90 Calls for $2.10. Then I looked and the Open Interest of this line was over 51,000. This means that a trader has the right but not obligation to buy 5.1 Million Shares of LEA at $90 between now and June. With an order that is this large and the stock only trades about 80,000 Shares in a day, this is a perfect time to get long LEA, but I did this through Call Options. However, a trader sets up well to the long side:

The Trade: Buy LEA at $83.40
Stop Loss: $79.40
Target #1: $85.40
Target #2: $87.40
Target #3: $89.40
Target #4: $91.40

Once I get filled in target #2, if I want I can move my stop to breakeven.
Man....Your info is priceless....Thanks
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gatorNic
2 years ago
Hit a new 52 week high today before bouncing back down. Interesting to watch over the next few days if it can break through and stay above that early december high.
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Just bought 10 June 80/75 bull put spreads for a credit of $1400 with a risk of $5000 - my $1400 credit totaling $3600 in Risk. By simple Options standards I have a %72 percent probability of keeping my $1400 in profit. Taking into account the Unusual Options Activity you provide I'd say that puts me in the %90 + probability of keeping my $1400.

Now if I'm lucky enough to get a nice pullback to the $81 area I'll take my $1400 credit and buy $85 June calls giving me a risk of $5000 with HUGE upside potential..

Thanks for the info....
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fcha PRO ChrisMoody
2 years ago
Gosh, you are lucky!
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