Nokia (NOK) shares gained 23 cents to $13.86 after the Wall Street Journal reported the company was to begin selling its first smartphone based on Linux-based software, a move designed to protect market share from Apple’s iPhone (link to story). In the options market, Nokia Sep calls were active after 12000 Sep 14s traded for 50 cents while 10000 Sep 13 calls traded for $1.07 cents. Both trades hit midday and from b/d-to-b/d. The move is possibly a roll up in strikes (closing a position in 10000 Sep 13 calls to open a similar position in 12000 Sep 14 calls) after Nokia’s 11 percent, “iPhone assault” rally this week.
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.