Semtech (SMTC), a Camarillo, CA semiconductor company, loses 27 cents to $25.25 and recent trades on the stock include a sweep of 890 Sep 27 calls for 40 cents when the market was 20 to 40 cents. 1110 now traded. 438 Sep 26 calls traded for 75 cents when the market was 45 to 75 cents. Implied volatility is up 12 percent to 31. Looks like upside call buying ahead of an Aug 22 (after market) earnings report.
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.