Brocade Communications Systems Inc (BRCD) $5.77 -1.20%
Brocade (BRCD) is off 7 cents to $5.77 and Oct 7 calls on the San Jose, CA data storage device-maker are busy today. 3,775 traded against 3,059 in open interest. The top trade is a 973-lot for 6 cents when the market was 5 to 6 cents. Implied volatility is up 3.5 percent to 44 and the flow seems to be opening buying on the stock. The contract is 21.3 percent OTM and expiring in 50 days. Oct 5.5 and 6 calls are also seeing some interest. Total volume is 4,825 calls and only 45 puts. Shares are down over the past few days, but have performed well in recent weeks — up nearly 30 percent since mid-July. The options order today seems to reflect expectations for additional gains through mid-October.
Category: All Stocks, Mid Cap Stocks, Technology Hardware & Equipment
Free Newsletter
If you enjoyed this article, sign up to receive more just like it.
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.
