United Technologies Corporation (UTX) $76.41 +0.75%

| November 12, 2012 | 0 Comments More

United Technologies (UTX) is up 42 cents to $76.26 and among 20 Dow stocks trading higher as the week begins with marginally positive market breadth. In options action, a Nov 70 – 72.5 – 75 put spread is sold on UTX at 37 cents, 12000X. It probably closes a position from a few weeks ago when the same spread was bought for 26 cents, 12000X (see 10/22 color). Shares are down 2.3 percent since that time, but still the spread is out-of-the-money and so it’s probably being closed to salvage the profit today rather than run the risk of seeing it expire worthless.

Category: All Stocks, Industrial Goods & Services, Large Cap Stocks

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About the Author (Author Profile)

Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.