Moneygram International, Inc. stock trades under the ticker MGI & closed for trading at $8.10 on 11/16/2020.
MGI stock has recently displayed amazing technical strength, nearly doubling in price since 10/13/2020.
Moneygram has options, which are currently at-the-money when looking at the $8 strike prices.
Given the 0.56 delta of the $8 calls, I would look there and or at the $7 calls for the upside, with the same levels being targeted for the puts covering the downside, but favoring the higher strike price for the puts.
MGI Stock Price: $8.10
10 Day Moving-Average: $5.78
50 Day Moving-Average: $3.93
200 Day Moving-Average: $2.82
RSI: 80
MGI stock has great potential for a short-term trade, and is worth a second look by traders.
I’ll be looking at them today, as their pre-market price is down 2.5% to $7.90, making those strike prices even more attractive, but perhaps buying the calls & puts for different expiration dates.
*** I DO NOT OWN SHARES OF MGI STOCK ***