Tim Biggam reveals a free bonus trade into bank earnings. Cost is just $20 to open the trade!

by | Oct 9, 2024 | News | 0 comments

Exact trade details below

Here is the bonus trade that was sent out yesterday to Options Cobra subscribers:

Wells Fargo reports earnings pre-market Friday

Tim normally reserves these bonus trades for paid subscribers. You get it here free leading into bank earnings. 

WELLS FARGO (WFC)

  • Options implying about 4% earnings based move 
  • Overhead resistance at $58.50/support $52
  • Series of higher lows bullish
  • Shares neutral on technical basis/somewhat cheap fundamental basis

Trade idea – CALL CALENDAR

Buy to open WFC 10/18/2024 $59 call

Sell to open WFC 10/11/2024 $59 call

COST: 

  • 20 cents net debit

Buying a 35 IV and Selling a 50 IV so nice TSOV edge

Short strike near overhead resistance/expected move upper boundary.

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