Action Alerts OPTIONS contributor Dan Nathan tells Stephanie Link he's buying puts with an April expiration for Johnson & Johnson at $92.50. Nathan says shares of the medical products maker have been range-bound in the mid-90's and he says they could get hit if the company reports another poor quarter, but they could jump higher if they announce a dividend bump or increase their share buyback program at their April shareholder meeting. The April put would allow buyers to capture the upside.
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