Bulls bet on Ctrip.com traveling higher

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Ctrip.com popped this morning, and the bulls are looking for more.

optionMONSTER's Heat Seeker tracking system detected the purchase of more than 2,800 January 26 calls for $0.25 to $0.35. Volume was almost 5 times open interest in the strike.

CTRP is up 2.27 percent to $24.35 in afternoon trading and at one point was up more than 8 percent. The Chinese online travel agency reported weaker-than-expected earnings and revenue the last time it issued results on Nov. 14. Guidance was also weak.

Nonetheless, in the last month, the stock has been stabilizing above $22 after plunging roughly 50 percent since the end of July.

The date of the next earnings release hasn't yet been announced, but it will probably be in mid-February, based on last year. Given that those January 26 calls expire at the end of next week, today's buyers are looking for a run even sooner.

Overall option volume is 7 times greater than average so far today, with calls outnumbering puts by 6 to 1.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright © 2010 OptionMonster® Holdings, Inc. All Rights Reserved.


This article appears in: Investing , Options

Referenced Stocks: CTRP

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