From Steve Smith. Laboratory Holdings (LH) shares just exploded up 6% to $67.90 after trading as low as $63.50 this morning. The company just concluded an analyst conference and something positive must have been said. Option volume is picking up with the focus being in buying calls in the October $70 strike which have now traded 1,700 contracts against prior open interest of just 670 contracts. Shares of the medical testing maker had been downgraded last week and suffered three large gap down days that took the stock as low as $61.50 on Thursday.
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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.