Bullish – LYFT $49.92 – Industrials
The S&P 500 (SPY) has pulled back into a range after printing a new 52-week high earlier last week. Look for a continuation higher above $334 highs.
DIS Trade Idea:
On CNBC’s OptionsAction show on Friday, the crew suggested that Lyft’s stock may rise on earnings following UBER’s footsteps. LYFT’s chart has the hallmarks of a bottoming formation and the potential to breakout higher on earnings. Bonawyn Eison, expecting LYFT to rise on earnings, suggests buying a Feb 50/55 Call Vertical @ $1.60 Debit. As of Friday’s close, these calls were trading at $1.70 Debit.
We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: LYFT OptionsAction Video
OptionsPlay now on CNBC!
Catch Tony Zhang, Chief Strategist on Options Action every Friday at 5:30PM EST on CNBC! Watch Now