SMH: Bullish Bet Into Weakness

A bullish call spread was placed today at 9:40am PST on Semiconductors. A trader purchased 6000 1 March $103 calls and sold the same number of 1 March $104 calls.

The trader expects the price to continue rising for the rest of February.

If this happens, the trade will generate 245% to its owner. The total bullish bet is $174K, which can turn into $426K if the SMH closes above $105 by the time of expiration of the spread.

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