This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Hasbro Bulls Do Last-Minute Shopping

Pete Najarian, co-founder of OptionMonster

NEW YORK -- Traders were making last-minute bullish bets on Hasbro (HAS) on Friday before the company releases its second-quarter earnings numbers in the premarket Monday.

Calls were active at the August 35 strike throughout the day but really picked up in the final hour of trading. More than 8,800 of the options traded for 60 cents to 90 cents against open interest of just 484 contracts, according to OptionMonster's real-time tracking systems.

Hasbro rose 0.36% on Friday to close at $33.84. The toy maker had been drifting lower since hitting resistance above $37 in early May but bounced off a seven-month support level last Monday and has been rallying back sharply.

For Friday's long calls to turn be profitable, Hasbro needs to gain at least 5% or 6% by expiration in a month. Total option volume in the name was about 12 times its daily average, with 11,600 calls outnumbering 4,800 puts at all strikes.

Najarian owns a call spread in HAS.

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $127.98 0.30%
FB $83.74 0.78%
GOOG $537.50 0.40%
TSLA $205.27 0.00%
YHOO $44.66 0.00%

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports