Heavy Call Buying in Applied Materials
By Pete Najarian, co-founder of OptionMonster
Options traders are stepping in to buy upside calls in Applied Materials (AMAT Quote) ahead of a press event it is hosting Thursday with solar industry experts.
Activity on Wednesday was concentrated in mostly the July 10 and July 11 contracts, in which more than 9,500 and 12,000 calls have traded, respectively, with strong buying patterns, according to OptionMonster's tracking systems. Total Applied Materials calls traded at all strikes outnumbered puts by more than 11 to 1.
The chip equipment maker's shares closed Wednesday up 1.4% to $11.08, but have been falling steadily since their highs earlier in the month. The call buyers may be expecting the stock to break out of its tight trading range of the last couple of months of between $10 to $12. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,479.82 | 1,111.66 | 2,209.37 | 35.97 |
Oil *
72.60
|
|
DOWN
21.23
|
DOWN
2.45
|
DOWN
2.73
|
UP
0.51
|
10 Yr
3.60%
SPDR Gold
110.49
|
|
-0.20%
|
-0.22%
|
-0.12%
|
+1.44%
|
Data delayed 20 minutes |
Connect with TheStreet