Garmin Bulls Want To Navigate Profits

One investor wants to map out profits in Garmin as the navigation stock treks higher.

optionMONSTER’s Heat Seeker monitoring system detected the purchase of about 3,100 January 45 calls for $2.90 and the sale of similar number of January 30 puts for $2.45. Volume was more than 8 times open interest at both strikes.

The trade cost $0.45 and lets the investor control a large number of shares at a fraction of the cost. If GRMN climbs, they’ll make money from the calls appreciating and the puts losing value. The opposite will be true in the event of a drop.

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