Qualcomm (QCOM) is threatening to break down and out of a their month long range between $45 and $48 a share. Notable trade was the purchase of 10,000 of the $35/50 strangle in the Jan 2010 for $1.85 net. Open interest is sufficient to cover in both strikes but hearing this was opening.
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Qualcomm Inc (QCOM) $45.10 -2.23%
Posted on August 17th, 2009 2:10 pm
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1 user commented on " Qualcomm Inc (QCOM) $45.10 -2.23% "
Follow-up comment rss or Leave a TrackbackThanks Steve. That’s hefty premium for out-of-the-money puts and calls–seems like a bullish bias since the calls are $5 OTM compared to $10 for the puts. Co. presents at a California Equity Research Southern California Investor Conference
Find more from Steve Smith here: http://www.minyanville.com/optionsmith/