You are here: Home > Trade Ideas > ICE Bull Call Spread

Daily Theta - Get Yours!



ICE Bull Call Spread

alt

ICE is still in a decent uptrend that has corrected with the market but not as sharply. The move back to 111-113 comes into support and it has bounced off the lows. If the market gets a short squeeze into the end of week I think ICE can move up towards 120. This is a nice mover especially during expiration week I have noticed. For a short term play I think ICE to the upside if it can hold onto the 111 support level. 

Buy the June 115 call and sell the June 120 call to create a bull call spread.

You can do this right now for 2.10. Max gain is a bit more than a double. Also if you are an active trader who is more aggressive I like using the May options and buying the 115/120 call spread for about $1.00 This has the potential to be $5 if ICE hits 120 on Friday of this week since options expiration is this week we have positive gamma pushing delta's more violently.