I added $CBOE as well to the core PF - out $jpm $aem 1/2 $mahttps://twitter.com/BullishBearz/status/1281258048770772993 …
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I wanted a financial co exposure as I sold JPM. CBOE has a tailwind of so many (retail & inst) trading derv rather than the single stock. I think they can earn 6.50-7$ next year based on that and the vol. $105-120 TP. Nice 20-30%. Also easier to hold than a bank atm.
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Thanks, I appreciate the response. Your EPS seems high (they did $4.74 in '19, market projects $5.20 in '20 and $5.00 in '21) but I agree with your thinking. If vol stays elevated & Europe investments pan out, 20x PE on 2021 EPS of $5.50 seems reasonable (implies $110 stock).
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