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.
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.
|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|
|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%|
Jack A. Bass Managed Accounts offers this advice on a performance based fee service.
For a no cost / no obligation review please email email@example.com or call Jack direct at 604-8583202 ( same time zone as Los Angeles).