Bank of New York (BK) Offering Possible 6.38% Return Over the Next 8 Calendar Days

Bank of New York's most recent trend suggests a bearish bias. One trading opportunity on Bank of New York is a Bear Call Spread using a strike $38.00 short call and a strike $43.00 long call offers a potential 6.38% return on risk over the next 8 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $38.00 by expiration. The full premium credit of $0.30 would be kept by the premium seller. The risk of $4.70 would be incurred if the stock rose above the $43.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Bank of New York is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Bank of New York is bearish.

The RSI indicator is at 69.51 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Bank of New York

Will earnings tell the story markets need to hear?
Sun, 13 Jul 2014 22:21:54 GMT

BNY Mellon Seeks to Hold Argentina Bond Payment
Fri, 11 Jul 2014 16:00:30 GMT

Argentina to send technocrats to debt talks with mediator in New York
Fri, 11 Jul 2014 02:31:33 GMT
Reuters – Argentina said a team of technocrats, and not its economy minister, would attend a meeting in New York with a court-appointed mediator on Friday, as it seeks to resolve a dispute with holdout investors over its sovereign debt. Argentina needs to seal a deal before a July 30 deadline with investors who rejected its debt restructurings after its catastrophic 2002 default on $100 billion. “The mission that will meet with the special master Daniel Pollack in New York will be carried out by the juridical and financial team of the economy ministry and other areas of the government,” Argentine Cabinet Chief Jorge Capitanich told reporters at his daily briefing. U.S. District Judge Thomas Griesa has ruled Argentina must immediately pay the group of holdouts, led by hedge funds Elliott Management Corp and Aurelius Capital Management, the bonds' full value worth $1.33 billion plus accrued interest.

[$$] The Most Trustworthy Trust Bank
Wed, 09 Jul 2014 15:11:00 GMT

Pershing Announces the Next Generation of its Block Trading and Rebalancing Tool for Advisor-Directed Programs
Wed, 09 Jul 2014 14:00:00 GMT
PR Newswire – JERSEY CITY, N.J., July 9, 2014 /PRNewswire/ — Pershing LLC, a BNY Mellon company, today announced the next generation of its block trading and rebalancing tool—delivered through its technology platform NetX360®—which offers a series of new capabilities for advisors. The improvements will enable advisors to run drift reports at the household level, create models of models and utilize a new cash rebalancing feature. It will also allow advisors to take advantage of an improved restriction management module that provides a holistic review of all restrictions for an advisor's business. With these improved features, the tool continues to deliver a full array of functionality to help improve transparency, minimize errors and improve advisor efficiency. “The new features of the block trading and rebalancing tool reduce the time spent on portfolio trading and rebalancing from hours to minutes, allowing advisors to focus on strategic analysis and dedicate time needed to drive client growth.”

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