85,000 calls and 18,000 puts traded in GE today. Shares are up 24 cents to $20.31 and the top trade is a 12,600 lot of May 22 calls for 11 cents on NYSE-ARCA, which was a buyer, according to a source at the exchange. Separately, 12,500 were also bought for 11 cents on AMEX and 10,000 more on ISE. More than 43,000 traded. $21 calls, which saw big buyers last week (see 3/15 and 3/16 color), are active again today as well. 14,560 Apr 21s traded and more than 10,000 May 21s changed hands. Upside call buying in GE comes as shares have already rallied 13.3 percent year-to-date. Earnings will come into play again on Apr 20.
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.