Iron Mountain (IRM) adds 6 cents to $28.93 and options volume is 14X the daily averge, heavily concentrated in the Jul 32.5 calls on the Boston, MA business software developer. One player bought 5,600 for $1 per contract in morning action. Looks opening. 11,680 IRM Jul 32.5 calls now traded at a VWAP of $1 against 5,527 in open interest. The market is $1.05 to $1.10. Bullish trading in IRM comes after a four-day 7 percent losing skid in the stock (prior to today) and just a couple of weeks afer earnings were reported (on 2/23).
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.