Campbell’s Soup Company (CPB) is seeing some UOA today and hitting highs of $45.94. The soup maker from New Jersey is up 6.5% YTD after hitting lows of $39.49 in January, likely a result of this year’s harsh winter. After rebounding the stock has done well on the charts breaking through the cloud to the upside and finding strong support levels still above the cloud. The future is bright as the cloud projects an upward trend and gets thicker and thicker, indicating a continued rally for Campbell’s.
CPB over the past few years has hit higher highs and higher lows after selling off from its 52-week high above $48. This, as we all know, is a great sign of bullish movement and traders on the street are betting it will continue. Lets look at a trade:
CPB: Buying the CPB Nov 47 Calls for $1.5
Targets: Sell 25% at $1.70, Sell 25% at $1.90, Sell 25% at $2.10, Sell 25% at $2.50
Greeks of this Trade:
Delta: Long
Gamma: Long
Theta: Short
Vega: Long