By Pete Najarian, co-founder of OptionMonster
NEW YORK -- Oracle (ORCL) is revving up for a big conference, and traders are coming back to the name.
The options lit up with a single purchase of 5,500 March 34 calls for $1.52. It was pretty far out in time and too thrilling yet, but it does bring attention back to the plans of Larry Ellison and Mark Hurd.
Calls lock in the price investors must pay to buy shares, and can generate some nice leverage in the event of a rally. But they will also become worthless if the stock fails to push higher by expiration.The conference, Oracle Open World 2012, takes place in a little more than a month. Executives will feature insights into industry trends, the latest technology developments and innovations, plus key strategies for achieving business efficiency and innovation. Oracle fell 0.28% to $31.49 Wednesday. Najarian has no positions in ORCL.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV