KeeneOnMarket
Long

Trader takes a Bullish Bet in LYB

NYSE:LYB   LYONDELLBASELL INDUSTRIES N V
142 0 1
LyondellBasell Industries N.V. ( LYB             ) is a commodity chemical company that processes plastic resins and other chemicals into a range of fuels and other products. The company’s stock is currently trading around $90.40 in a 52 week range of $57.33-$93.99. The stock has been doing very well this year with shares of LYB             rallying more than 12.4% year to date. Options traders are looking for more upside in LYB             as action during today’s session is decidedly bullish . Earlier today a trader bought 3,061 LYB             May 92.5 calls for $0.80. The stock is trading above the Ichimoku Cloud and has a relatively bullish chart set up indicating this trade was likely a speculative long rather than a hedge against an existing stock position. With this bullish order flow and chart set up I believe these calls are setting up well on a risk vs. reward set up.

Trade: I bought 100 LYB             May 92.5 Calls for $0.80
Risk: $80 per 1 lot
Reward: Unlimited
Breakeven: $93.30
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