iStar Financial (SFI) calls are seeing brisk trading ahead of the company’s April 29, before market, earnings release. Shares are up 7 cents to $6.09 and about 26K contracts traded, which represents 15X typical volume and compares to just 96 puts. June and July 5 and 7.5 calls are the most actives. Sone of the action appears to be rolling of bullish positions up in strikes. For example, a block of 3600 Jul 5s coincided with 7350 Jul 7.5 calls. SFI is up more than 30 percent since April 6 and received a lift last week after Reuters ran an article titled “iStar Out of Trouble for Now; Challenges Remain.” see 4/22 color.
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.