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Financial Services Name Coiling in High Tight Bull Flag

by | Jul 29, 2024

Fidelity National (FIS) shares of the financial services name are coiling in a high tight flag and its earnings report is not till later next week. The stock can see a break higher above 77 for a move towards 80 and especially into the FOMC meeting as it’s a name that benefits from rates falling being in the loan market and title insurance business. FIS has recent buyers of 800 Jan 2026 $95/$60 strangles that lean strongly bullish delta, as well as Jan 2025 $77.50 calls still holding in OI after more than tripling since early this year.

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