The Trade
Buyer executed the December $35/$43 bull call spread 5,000x for a debit of $3.05. Maximum risk is equal to the debit. Break even is $38.05, with profit potential limited to $43. Chart below highlights break even and maximum loss for the trade.
Trade coincides with an overweight rating set for the chemicals company this morning by Barclays. Looking for a recovery from the recent broad market sell off, with significant support at $28. Graph below shows risk profile for trade.
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No position at this time. Position declarations are believed to be accurate at time of writing but may change at any time and without notice.
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