AMTD: Upside Is Capped

One trader believes that the AMTD stock’s upside is capped going into the next 2 months and should not move higher its recent resistance of $42. The trader sold  10’000 of May 42 AMTD calls on Friday at 8:22am. The call volume was much higher than the open interest, which indicates that this is a new position placed on Friday.

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As a result of price wars initiated by a number of online brokers, TD Ameritrade had to react and hence announced Tuesday that it would lower commission fees for online equities and ETFs from $9.99 per trade to $6.95. The firm also announced it would lower options trading pricing to $6.95 with an additional fee of $0.75 per contract.

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