Yesterday shares of Glu Mobile (GLUU) had a 13% intraday spike to a high of $4.35 immediately after well respected tech analyst Dan Niles mentioned the name as one of the ways he’s playing the mobile/social growth. Option activity also spiked on a relative basis as over 1,300 calls traded yesterday compared to a 30 day average volume just 150. While the stock has retreated today to down 5% to $3.90 option activity continues to pick up with 4x the average daily volume registered so far today. And again it is heavily titled to the bull side with 2,000 calls versus just 125 puts traded. The bulk of the volume is new positioning in the December $5 calls for 45c. Looks like a mix of buying and selling.
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