Jack in the Box (JACK) gapped higher and is up $1.27 to $24.39 after Goldman Sachs upgraded the stock to Buy from Neutral. In the options market, trading is brisk, with 5240 calls and 77 puts traded by 2:00 ET. The top trade of the day is a lot of 514 April 25 calls at the 60 cent Ask price. 3530 now traded (72 percent Ask) vs. 450 in open interest. Sep 25 calls are seeing interest as well and implied volatility is JACKed up about 6 percent to 28. The company is also presenting at a JP morgan Gaming, Lodging, Restaurant, Leisure conference today (Noon ET.)
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.