Qualcomm (QCOM) is off 71 cents to $40.70 and one of the worst performers in the NASDAQ 100 Thursday. In the options, the Jan10 40 put – 42.5 call strangle trades for $3.97, 5000X. It might be a closing sale (selling both puts and calls), as open interest is sufficient to cover (current bid-ask is $3.97 to $4.02). Earnings due on Nov. 4.
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Qualcomm Inc (QCOM) $40.82 -1.42%
Posted on October 22nd, 2009 2:30 pm
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3 users commented on " Qualcomm Inc (QCOM) $40.82 -1.42% "
Follow-up comment rss or Leave a TrackbackHow about that 100K call buyer in XHB ahead of existing home sales data, wow! Saw a 10K buyer early this morning and LEN and KBH call buyers, now DHI as well…someone is bullish on these stocks, big time
Oh and this looks to be a bullish risk reversal to me, puts traded below the bid and calls at the offer….
yes, it did look like a risk-reversal, that’s why I wrote it. A source on the floor says it was a strangle — crossed — but I think it was seller initiated.
thanks for the tip on XHB LJ24!