11:05am (EST)
We have another Trade Alert for BAC today so let’s go check the action.
Trade Alert!
Bank of America (BAC, $27.01, down $0.85)
BAC June 27 puts (BAC230616P00027000, $1.50, up $0.58)
Entry Price: $0.55 (5/2/2023)
Exit Target: $1.10, raise to $2.05
Return: 173%
Stop Target: 65 cents, raise to 95 cents (Stop Limit)
Action: Raise the Exit Target from $1.10 to $2.05. Raise the Stop Limit from 65 cents to 95 cents. Today’s low on the puts has been $1.00.
Shares have tested a low of $26.84 this morning with the 52-week low at $26.32. We will look to start locking in profits on a continued pullback towards $26. For now, continue to enjoy the ride.