McAfee (MFE) is seeing relative strength and active call buying Monday. Shares of the software maker are up $1.72 to $41.88 and a new 52-week high. In the options market, 5,100 calls and 1,120 puts traded. Today’s call volume represents 16X the normal for midday action. July 45 calls are leading the flow, with 3,400 traded, compared to 1,260 of existing open interest. Buyers dominate the actoin, with 89 percent hitting ask-side. No news (yet). Implied volatility is up to 33, from about 31.5 late last week.
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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.