With a whole lotta money out there these days, it’s gotta find a home.
The financials have been laggards on the last leg higher in the S&P, but we found a good recent entry point in BAC at $23 using the Extreme Turn (the “Money Point” indicator among friends).
Signal expressed as Aug 25C for .65 and then spread today when the sell signal printed at 24.42. Holding the rest for gap fill above $25. We’d like to see price hold the 233 EMA (T-Line) through Friday expiration.
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