Juniper Networks has pulled back after a big rally, and now the bulls are back.
optionMONSTER’s Heat Seeker monitoring program detected the purchase of 6,000 July 29 calls for $0.56 and the sale of an equal number of July 23 puts for $0.78. Volume surpassed previous open interest at each strike, indicating that new positions were initiated.
The trader collected a credit of $0.22 and stands to make money from the long calls pushing higher with the stock. But he or she can also lose money through the short puts if shares fall. The strategy is similar to owning shares, but with tremendous leverage.
— Option Monster