Carter Worth spoke on CNBC's Options Action about the media sector. He shared with the audience his analysis and showed that the sector has underperformed Consumer Discretionary SPDR (ETF) XLY in the last two years and outperformed both S&P 500 and Consumer Discretionary SPDR (ETF) in the last month.
Worth believes the strength in the media space is going to continue and he suggested the best way to trade this idea is by taking a long position in Time Warner Inc TWX. He thinks that the stock has bottomed and it's going higher to $84 or $85.
Mike Khouw doesn't expect a sharp move higher in Time Warner and he thinks the best way to take a long position is by selling the July 75 puts for $2.15.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.