LSI adds 8 cents to $7.38 and within minutes of the opening bell, a sweep of 1,933 Feb 7 calls trade on the stock for 60 cents per contract when the market was 50 to 60 cents. A customer bought, to open, according to data from ISE. 3,781 now traded against 1,512 in oen interest. Feb 8 calls are the second most active in the chipmaker. 1,106 contracts changed hands. 5,738 calls and 850 puts traded on the stock total and 30-day ATM implied volatility is moving up 4.5 percent. The company reports earnings after the closing bell. Shares rallied 7.3 percent on 10/25 after LSI last reported and surged 16.4 percent on 7/26 in the prior quarter.
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.