Eclipsys Corp. (ECLP) is seeing 49 times its normal trading volume on increasing activity in the January 30 and January 2010 30 call options. This is possibly the rolling of a bullish position, as 4,700 of the January 2009 calls were sold and the same number of 2010 were purchased. Or, it might be part of a calendar spread, a bet that the stock will stay below $30.00 from now until January expiration and then begin to move higher throughout 2009. (For those interested, tomorrow’s OI numbers should add some clarity. Check comments.) Shares are up 30 cents to $19.89 today, but are well of their late January high of $26.34.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.