We hold four nearly riskless March 840-850-860 butterflies for a 0.20 debit each. This position could pay off at 50-to-1 odds or better if the stock continues along the upward trajectory it has maintained since before Thanksgiving. A crucial test of its ability to do so is near, however, in the form of the 792.85 Hidden Pivot target shown in the chart. The stock has traded slightly above it Monday evening, hitting 793.26, but it’ll need a little more loft to conquer the target decisively.
