A trader executed the EK August $2.5/$3 bull put spread for a $0.14 credit, 4,090x.
The trader is making a large bullish bet on EK. The vertical spread has limited risk and limited profit potential. The trader received a credit of $57,260 for the spread, which is the max profit. The max risk occurs at an underlying stock level of $2.50 and below. The break even underlying price level is $2.86 by August expiration.
The white line shown in the daily stock chart is the break even price of the spread. EK closed trading today at $3.43.
EK traded 40,958 option contracts compared to average daily volume. The 52-week range for EK is a low of $2.75 and a high of $5.95.
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