Net 1 Ueps Technologies Inc (UEPS) $16.75 +0.66%
Shares of Net 1 Ueps Tech (UEPS), a Johannesburg based electronic payment systems provider, sank 9.5 percent and options volume rose to 24X the average daily levels Thursday. The action included 4000 April 17.5 combos and appears to have closed out an existing position (bot calls, sold puts). Meanwhile, 5000 July 17.5 puts were apparently bought-to-open at $1.40 each. In short, looks like a bearish position rolled from April to July, with an investor possibly bracing for additional downside after Thursday’s slide. The company is currently in contract negotations with South African Social Security Agency — which accounts for about 65 percent of its revenues.
Category: All Stocks, Industrial Goods & Services, Small Cap Stocks
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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.
