Bulls swarming to Accuray

Accuray is surging on a strong quarterly report, and bullish trades are appearing left and right in the name.

optionMONSTER’s Heat Seeker monitoring program shows more than 29,000 contracts trading in the maker of surgical devices, compared with fewer than 3,000 in a typical session. Calls were bought and puts were sold, which reflects a belief the stock will continue to rally.

In the largest transaction, 6,879 June 10 calls were unloaded for $1.86 as an equal number of September 12.50 calls were purchased for $1.61. Volume was below previous open interest in the June contracts, which indicates that an existing long position was closed and rolled forward in time. Making the adjustment let the investor collect a credit of $0.25 and provided an additional three months of exposure to potential gains.

Continue Reading at Option Monster

— Option Monster

You May Also Like

About the Author: Option Monster