Oracle (ORCL) – Bullish Options Action Trade for Nov 5th, 2018

On Friday’s Options Action, the crew analyzed the performance of Oracle (ORCL). ORCL has been outperforming the market and tech sector in Oct during a very poor month for the market. Coupled with a wedge formation and increasing relative strength, ORCL looks primed for a breakout higher. Expecting ORCL to move higher during earnings, Michael Khouw suggests buying a Jan 44/52.5 Risk Reversal for a $0.00 Even. As of Friday’s close, this spread was trading at $0.02 Debit.

We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: ORCL Options Action

View this OptionsPlay on ORCL