Bullish Options Positioning in IBM (IBM) Target Upside in Shares Ahead of Earnings Announcement Tonight -Susquehanna

Susquehanna options strategist Alison Edwards notes bullish options positioning in IBM (NYSE: IBM), ahead of tonight’s earnings, as opening investors bought 7k of this week’s Jan 144/148 call spreads. The investor breaks even if shares are ~4.5% higher this week and has the potential for a ~5.3:1 payout on a ~7% rally. The options are implying a roughly 4% earnings move.

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