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

Hologic Bulls Are Back for More

By Mike Yamamoto, managing editor of OptionMonster

NEW YORK -- Hologic (HOLX) saw upside action two weeks ago, and the bulls came back Wednesday.

About 4,500 November 22 calls were purchased for 65 cents to 90 cents, according to OptionMonster's tracking systems. Open interest in the strike was just 145 contracts before the trades appeared, showing that this is fresh buying.

These calls lock in the price where the stock can be purchased in the next five weeks no matter how far it might climb. But the contracts will expire worthless if the shares remain below $22 through mid-November.

Hologic's stock rose 4.16% to $21.51 on Wednesday and is back above its 100-day moving average. The medical-device maker fell sharply after presenting at a Morgan Stanley conference on Sept. 10, and it is now trying to break out of a tight range in place for the last month.

Total option volume in the name topped 9,900 on Wednesday, almost six times its daily average for the last month. Of those contracts, fewer than 1,500 were puts.

The bullish action Wednesday follows buying in the March 22 calls on Sept. 25.

Yamamoto has no positions in HOLX.
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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $122.79 -0.16%
FB $95.00 -2.10%
GOOG $633.00 0.17%
TSLA $266.88 1.20%
YHOO $37.48 -0.50%

Markets

Chart of I:DJI
DOW 17,745.98 -5.41 -0.03%
S&P 500 2,108.63 +0.06 0.00%
NASDAQ 5,128.7850 +17.0520 0.33%

Free Reports