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4.1K Dec 30.

Mar 35 call spreads opened in Braskem - 4.1K Dec 30 - Mar 35 call spreads opened in Braskem. The stock off $1 to $26.12 and the spread, which will create the largest open interest blocks in the name, prints 36c. It expresses the view that shares will likely hold below $30 through the December expiration - or not rally more than 15% over the next 38 days - but possibly move into mid-30s by mid-March. The 30-level was a source of resistance several times in August and September. The stock is now on a two-day 7.8% move to multi-month lows after earnings released yesterday.

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Publication:The Fly
Date:Nov 13, 2018
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