Long AMC.ASX (update)
Amcor is now trading $15.75 or +10% from our buy range indicated in June. The nimble or leveraged trader should consider taking profit now, the investor may prefer to sell the $16.00 November call options for 50 -60 cent credit and keep exposure to the upcoming September dividend of approximately 28 cents.
Author: Leon Hinde
Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.
PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:
· Deposit Products
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks