Call Options were purchased on the Indian ETF symbol PIN. The December $18.00 call options were purchased for $1.15 before commissions and expenses. PIN is currently trading at $18.37. The target selling price for the option is $2.00.
Reasons for the trade include:
- Technical analysis suggests move to $20.00.
- Positive comments from their PM regarding the increased allowance of foreign investment in the Indian retail and aerospace industries.
- Recent central bank actions improve probability of rise in global stocks
Previous trades include USO options, IAU options, and FXC options.
If a more conservative approach is more to your trading style, Trading Futures ETF Options also follows Sell The Call, a blog covering all things covered call.
**Disclaimer** - This is just trade information. It is not a recommendation to buy or sell any of the securities mentioned in this blog. Do your Due Diligence before any trading or investing.