OPKO Health Continues Climb

Our bragging rights were reinforced with this mornings continuation of volume and price .

Please see the entry ( Thursday) the news release that has  Jack A. Bass Managed Accounts happy to add to our position.

We have not seen the shorts panic – yet.

Odd strategy is bullish on Opko

optionMONSTER systems show that a trader bought 3,950 September 10 puts for $3.10 and sold 3,950 June 10 puts for $2.65 yesterday. Volume was above the previous open interest in each strike, so these are clearly new positions.

This calendar spread cost $0.45 to open, which is the most that can be lost until that first expiration. The maximum profit will come if OPK is right around $10 at the mid-June expiration.

It is interesting to note that the trader used in-the-money puts to create a bullish trade. Essentially the same thing could have been done using calls in the same strikes. (See our Education section)

OPK surged 8.4 percent to $8.39 yesterday on positive clinical data. The pharmaceutical and diagnostics company fell to $7.32 last week, its lowest price since early August. Shares were above $12 in mid-October.

OPKO HEALTH INC(OPK:NYSE, US)

BuySell
9.04USDIncrease0.65(7.75%)Volume:
Above Average
As of 14 Feb 2014 at 11:17 AM EST.

QUOTE DETAILS

Open 8.56 P/E Ratio (TTM)
Last Bid/Size 9.03 / 9 EPS (TTM) -0.29
Last Ask/Size 9.04 / 20 Next Earnings 17 Mar 2014
Previous Close 8.39 Beta 0.83
Volume 2,765,608 Last Dividend
Average Volume 2,956,694 Dividend Yield 0.00%
Day High 9.04 Ex-Dividend Date
Day Low 8.45 Shares Outstanding 408.0M
52 Week High 12.95 # of Floating Shares 217.3466M
52 Week Low 6.14 Short Interest as % of Float 21.13%
chart

Jack A. Bass Managed Accounts offers this advice on a performance based fee service.

For a no cost / no obligation review please email info@jackbassteam.com or call Jack direct at 604-8583202 ( same time zone as Los Angeles).

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