DVMT is the tracking stock Dell issued for a portion of its ownership in VMware. It was trading far below the value (compared to VMW) that investors expected. I was able to set up a call spread, based on DVMT trading at $68.50, to buy the July $80 strike, selling the $90 strike, for a net $2. In other words, I need a 31% pop in this stock to return 5X my bet.
Two things to note. The bid/ask suggests a fill at $2.50 for a market order. Which is why I entered this as a limit. Also, only 5 months to run. The very low end of how I like to set up these trades.