Steve Sosnick's Bearish Morgan Stanley Trade
Steve Sosnick, the chief options strategist at Interactive Brokers, recommended on Bloomberg Markets a bearish options strategy in Morgan Stanley (NYSE: MS). He would use it as a hedge for a long stock position or as a bearish bet.
Sosnick wants to buy the September 44.50/43.50 put spread for 35 cents. The trade breaks even at $44.15 or 2.32 percent below the closing price on Friday. It can maximally make a profit of 65 cents.
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Posted-In: Bloomberg Markets Steve SosnickOptions Markets Media