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Hawk’s Nest

Railroad Name Sees Bull Risk Reversals Position for Higher into Year End

by | Nov 3, 2022

CSX (CSX) with 2500 February $27.50/$30 bull risk reversals open at $0.20 debit as the stock rebounded from top of monthly value retest and 21 EMA near 28.50. This trader is confident that the trend off lows continues and the 27.50 level a solid support into year end being a willing buyer of stock at that spot. CSX has resistance at 30 but above that can breakout quickly to the 32.25 level where YTD VWAP sits overhead. Industrials are a group seeing money flow recently and that could spill over further into the Rails and Transports.