Netlogic (NETL) shares added 4.1 percent to $31.76 Wednesday and 5000 calls traded on the Mountain View, CA chipmaker. The volume represents more than double the usual and 5X the day’s put volume. Jan 31 calls were the most actives. 3900 traded (97 percent Ask) and open interest increased by 2928 to 4374. No news to explain the bullish action. The company reported earnings on 10/28. Shares are up 12.8 percent since that time.
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.