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.
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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Also a call option on some potential M&A in this space but I don’t like factoring that into decisions. I think analysts will bump estimates once they realize the record vol will continue and increased volatility closer to elections. Let’s see what happens!
Thanks. Twitter will use this to make your timeline better. UndoUndo
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