Options traders trading Cisco Systems (NASDAQ:CSCO) don't see much upside for the stock, as the company is trading close to its 52-week low.
CSCO is up 0.01 percent on the day to $17.30, as of 2:07 PM EDT. The networking dropped to a 52-week low of $16.97 a couple of weeks ago. The shares have trended down from near $28 last April, gapping lower on each of the last four earnings reports.
Optionsmonster noted, "Leading today's options volume is the action in the January 19 calls. A trader sold 7,500 of those calls for $0.99, taking the bid price at the time. This was against open interest of 1,896 contracts, so it was a new opening position.
"Although there was action across some other call strikes, including the January 22.50 calls, this selling at the $19 strike is the largest print and appears to be done in isolation. We also don't see any trading in the underlying stock tied to this option activity."
Monday, March 28, 2011
Cisco (CSCO) Traders Don't See Much Upside
Labels:
Cisco,
CSCO,
Options Traders
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