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Earning Month Calls Trade in Illinois Tool Works Inc. (Symbol: ITW)

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Earning Month Calls Trade in Illinois Tool Works Inc. (Symbol: ITW)

Posted October 23, 2023
Jeff Praissman
Interactive Brokers

This morning 1,300 November 17 ’23 240 calls traded in Illinois Tool Works Inc. (Symbol: ITW). 760 of the ITW November 17 ’23 230 calls traded as well. ITW is expected to release earnings on October 24th and does not have weekly expirations, so these trades are most likely an earnings play. ITW has outperformed expectations in the past eight earnings cycles.

ITW has outperformed expectations in the past eight earnings cycles.

The ITW 230 calls are a 42 delta, and the 240 calls are a 20 delta, so overall the equivalent of 56,400 shares of stock. ITW is currently trading at $224.78. ITW has a 52-week high of $264.19 and a 52-week low of $193.73.

ITW has a 52-week high of $264.19 and a 52-week low of $193.73.

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