Monday November 9, 07:58 PM
STOCKS NEWS US-JDS Uniphase gets bullish option activity
Stocks on the move
Real (Frankfurt: BJU.F - news) -time Equity news
U.S. stock market report
1439 ET 09Nov2009 JDS Uniphase
(NASDAQ: JDSU - news) draws bullish option action
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Telecoms equipment maker JDS Uniphase Corp shares
rose 6.97 percent to $6.91 in late trading. Its shares are up
25 percent since last Monday and a number of option players are
hoping to catch extended gains. One investor is looking for a
late-year rally from JDS Uniphase, wrote optionMonster analyst
David Russell in comments on the Web site. The firm's computer
model detected heavy buying of the December $8 calls, which
were bought 15,000 times for 10 cents per contract. Volume was
more than five times open interest. The company last week
posted an adjusted quarterly profit that beat Wall Street
expectations. The stock needs to climb about 18 percent by
December expiration for the calls to turn a profit, he said.
Russell noted the same investor also apparently purchased
about 3,500 December $7 calls for 35 cents against existing
open interest. In all, volume was six times greater than
average with about 23,000 calls and 3,144 puts traded,
according to Trade Alert.
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