Enviado: 18/10/2012 21:31estranho, como disse, foi o investimento feito nas opções.....
The shares of Juniper Networks, Inc. (NYSE:JNPR - 18.00) have tacked on roughly 4% so far today, and it looks like a slew of options traders are anticipating even more short-term upside. At last look, JNPR has seen about 40,000 calls change hands -- close to 16 times its average intraday call volume.
Most active by a mile has been the November 20 call, which has seen more than 10,600 contracts cross the tape on open interest of fewer than 1,000, pointing to a plethora of new positions. What's more, 91% of the soon-to-be front-month calls have traded at the ask price, hinting at buyer-driven volume.
By purchasing the calls to open, the buyers are expecting JNPR to surmount the $20 level within the next few weeks. More specifically, the volume-weighted average price (VWAP) of the calls is $0.53, indicating a breakeven level of $20.53 (strike plus VWAP) for the buyers. However, should JNPR remain below this round-number strike, the traders' maximum risk is capped at the premium paid at initiation.
As alluded to yesterday, this affinity for calls is just more of the same for JNPR, judging by the latest trends in the options arena. In fact, the stock's Schaeffer's put/call open interest ratio (SOIR) stands at 0.51, suggesting calls nearly double puts among options with a shelf-life of three months or less. Furthermore, this ratio registers in the 25th percentile of its annual range, implying that near-term options traders are more call-skewed than usual right now.
Today's bulls are likely reacting to unsubstantiated reports that JNPR has hired J.P. Morgan to evaluate possible bids for the company. In fact, one bid is reported to be in the high $20's -- a possible catalyst for the aforementioned 20-strike call buyers -- with EMC Corporation (NYSE:EMC) cited as a potential buyer.
At last check, JNPR is winking at the $18 level. Earlier in the session, the security traveled as high as the $19.22 before running into a wall at its 200-day moving average, which has rejected the stock's rally attempts since mid-2011.
The shares of Juniper Networks, Inc. (NYSE:JNPR - 18.00) have tacked on roughly 4% so far today, and it looks like a slew of options traders are anticipating even more short-term upside. At last look, JNPR has seen about 40,000 calls change hands -- close to 16 times its average intraday call volume.
Most active by a mile has been the November 20 call, which has seen more than 10,600 contracts cross the tape on open interest of fewer than 1,000, pointing to a plethora of new positions. What's more, 91% of the soon-to-be front-month calls have traded at the ask price, hinting at buyer-driven volume.
By purchasing the calls to open, the buyers are expecting JNPR to surmount the $20 level within the next few weeks. More specifically, the volume-weighted average price (VWAP) of the calls is $0.53, indicating a breakeven level of $20.53 (strike plus VWAP) for the buyers. However, should JNPR remain below this round-number strike, the traders' maximum risk is capped at the premium paid at initiation.
As alluded to yesterday, this affinity for calls is just more of the same for JNPR, judging by the latest trends in the options arena. In fact, the stock's Schaeffer's put/call open interest ratio (SOIR) stands at 0.51, suggesting calls nearly double puts among options with a shelf-life of three months or less. Furthermore, this ratio registers in the 25th percentile of its annual range, implying that near-term options traders are more call-skewed than usual right now.
Today's bulls are likely reacting to unsubstantiated reports that JNPR has hired J.P. Morgan to evaluate possible bids for the company. In fact, one bid is reported to be in the high $20's -- a possible catalyst for the aforementioned 20-strike call buyers -- with EMC Corporation (NYSE:EMC) cited as a potential buyer.
At last check, JNPR is winking at the $18 level. Earlier in the session, the security traveled as high as the $19.22 before running into a wall at its 200-day moving average, which has rejected the stock's rally attempts since mid-2011.
