Hello Investors,
Today we entered into a new trade in NVO. This company is the maker of drugs Ozempic and Wegovy. This stock has been in a downtrend for the past few months. The “measured move” target is down near 95/share. If/when it gets to that price it could be interesting. I have owned some LLY but don’t personally own any NVO stock. The trade details as follows:
Buy to open: NVO Dec 20th (monthly) 105.00 strike put (ratio of 1)
Sell to open: NVO Dec 20th (monthly) 95.00 strike put (ratio of 2)
Buy to open: NVO Dec 20th (monthly) 85.00 strike put (ratio of 1)
Debit: 2.35
Max risk = 2.35 or $235.00 per spread
Max reward = 7.65 or $765.00 per spread
Have a great thanksgiving!