IMAX adds 61 cents to $21.46 and options volume on the movie theatre company is running 9X the daily average, being driven by a Jun 21 – 22 call spread, apparently sold at 45 cents, 17000X. It might roll a position in Jun 21 calls opened last week for 30 and 35 cents (see 6/5 and 6/7 color). Shares are up 11.7 percent since Jun 4 and positions are being liquidated at $1.10. A new bullish position in Jun 22 calls is being opened for 65 cents and, if so, the big spread seems to reflect expectations for additional gains in the stock through the remainder of this week. The company hosts an annual Investor and Analyst day tomorrow. (WhatsTrading.com Premium Alert Sample).
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.