Halozyme Therapeutics spiked higher yesterday after announcing the appointment of a new CEO, and traders made a quick profit on the move.
Our trading scanners detected the bullish action right after the market opened with a print of 5,000 January 15 calls purchased for the ask price of $0.45. The buying continued throughout the session, as optionMONSTER co-founder Jon “DRJ” Najarian pointed out on CNBC’s Halftime Report yesterday, and finished with more than 13,800 contracts priced all the way up to $1.35–a gain of exactly 300 percent.
Open interest in the name was a mere 279 contracts at the start of the day, clearly showing that new positions were initiated.
— Option Monster