Rocket Equities & Options - New Trade UBER Bull Call Spread
New Short Term Options Trade in UBER
We are going long Uber for an earnings play to the upside next week. Uber reports earnings Thursday, August 6th after the market.
I'm going to purchase a bull call spread above the current market in Uber.
I will be buying an August 7th weekly call at the $32.50 strike price - this contract was at about $0.79 yesterday.
I will also be simultaneously selling an August 7th weekly call at the $35.50 strike price - this contract was at about $0.18.
This will result in a net debit of about $61 per contract.
Our max profit in this trade is $239 if Uber is above $35.50 on Aug 7th, and our max loss is $61 if Uber is below $32.50 on Aug 7th.
Uber is trading a bit higher this morning so the prices may differ a bit, let the market open first and then initiate the trade.
I'm going to purchase a bull call spread above the current market in Uber.
I will be buying an August 7th weekly call at the $32.50 strike price - this contract was at about $0.79 yesterday.
I will also be simultaneously selling an August 7th weekly call at the $35.50 strike price - this contract was at about $0.18.
This will result in a net debit of about $61 per contract.
Our max profit in this trade is $239 if Uber is above $35.50 on Aug 7th, and our max loss is $61 if Uber is below $32.50 on Aug 7th.
Uber is trading a bit higher this morning so the prices may differ a bit, let the market open first and then initiate the trade.