Melco Crown Entertainment Ltd (MPEL) $4.92 +1.44%

| July 16, 2009 | 0 Comments More

Melco Crown Entertainment (MPEL) is up a nickel to $4.9 and call volume is running 5X the usual, with some investors showing interest in October 7.5 calls. The top trade is 1000 contracts for 25 cents on CBOE, a firm buyer, according to a contact on the floor. Looks like similar action on PHLX. 3000 contracts now traded. MPEL was initiated with a buy at Sterne Agee yesterday. Implied vols falling to 88, from about 95 yesterday.

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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.