Melco Crown Entertainment has been on a monster run, and the
buyers are still piling in.
optionMONSTER's Heat Seeker monitoring system detected the purchase
of almost 25,000 April 23 calls for $0.95 to $1 against open
interest of 7,081 contracts. Most of the volume priced at the
higher premium, which shows the strong buying interest.
Those calls lock in a $23 entry price on the Macau casino operator,
which has already more than doubled since August. They'll generate
some nice leverage if shares keep rising over the next three weeks.
for more on the strategy.
MPEL fell 0.09 percent to $23.15 in afternoon trading and set a new
all-time high earlier in the session. It's been climbing amid a
steady wave of bullishness in the
, marked recently by call buying in other companies such as
Total option volume in MPEL is 6 times greater than average so far
today, according to Heat Seeker. Calls outnumber puts by a bullish
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