QLogic (QLGC) loses 2 cents to $12.23 and 3,117 Sep 12.5 calls trade on the stock. 1000 traded for 40 cents when the market was 30 to 40 cents. Sep 12.5 calls on QLGC are 2.2 percent OTM, expiring in 32 days, with 435 in open interest. Shares have performed well since falling to 52-week low of $9.56 after eanings were reported on 7/27. The stock is up 9.8 percent and has made up the post-earnings loss since that time. The company announced last week that it will be presenting at three conferences, all of which are before the expiration. Citi Tech conference on 9/5, ThinkEquity Growth conference on 9/12, and Deutsche Bank tech conference on 9/13.
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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.