The bulls came back to Autodesk in a huge way on Friday and
quickly racked up some nice gains.
optionMONSTER's Heat Seeker tracking program detected heavy buying
early in the December 44 calls, with a chunk of 10,000 contracts
purchased for $0.88. Volume at the strike would surpass 17,000 by
the end of the session, 179 times previous open interest at the
lock in the price where the design-software maker can be purchased,
letting investors cheaply position for a rally. They can also
generate some nice leverage, which is exactly what happened because
those December 44s ended the session up 42 percent to $1.25. (See
The stock, by contrast, rose just 4.99 percent to $41.89. ADSK
gapped higher on a strong earnings report in August, retreated, and
was targeted by
several highly profitable option trades
the next month.
Friday's bullish paper followed another pullback in the share
price, this time near the 50-day moving average. The company's next
earnings report is scheduled for after the closing bell on Nov. 21.
Overall option volume was 15 times greater than average in the
session. Calls accounted for a bullish 82 percent of the total.
(A version of this post appeared on
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