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Options Trader
Basic Strategies for Big Profits in Any Market

Buy Call NVO

March 12, 2024
Buy the Novo Nordisk (NVO) September 135 Calls (exp. 9/20) for $14.50 or less

Today we are going to freshen up the portfolio a bit by buying one of the best-looking stocks in the market while selling our two worst-performing holdings.

Let’s start with NVO which has been riding the “miracle” weight-loss trade the past year, and continues to see very strong call buying including these trades recently:

Today - Buyer of 1,500 Novo Nordisk (NVO) June 140 Calls for $8 – Stock at 134

Thursday - Buyer of 4,500 Novo Nordisk (NVO) April 140 Calls for $4.50 – Stock at 137

While we may not be “early” to the NVO stock move, I think the stock looks terrific, and option activity remains strong, so let’s add the stock to the portfolio today.

To execute this trade you need to:

Buy to Open the NVO September 135 Calls

The most you can lose on this trade is the premium paid, or $1,450 per call purchased.

Position
NVO September 135 Calls
Position Strategy
Buy Call
Opened Date
March 12, 2024
Expiration
September 20, 2024
Net Price
14.05
Strike
135
Jacob Mintz is a professional options trader and editor of Cabot Options Trader. Using his proprietary options scans, Jacob creates and manages positions in equities based on unusual option activity and risk/reward.