One investor is sticking with Optimer Pharmaceuticals as its
shares grind higher.
optionMONSTER's Heat Seeker tracking system detected the purchase
of 2,500 December 15 calls for $1.83 and the sale of an equal
number of September 15 calls for $0.65. Volume was below open
interest in the September options but not the December contracts,
suggesting that an existing long position was rolled from one
strike to the other.
The investor paid a net $1.18 for the transaction and gained an
additional three months to profit from upside. He or she also
avoided losing money to
as the front-month September calls approach expiration at the end
of next week. (See our
OPTR fell 2.69 percent to $15.54 yesterday but is up 27 percent so
far this year. The maker of drugs for gastrointestinal infections
is scheduled to make a presentation tomorrow at the ThinkEquity
Annual Growth Conference, followed by the UBS Global Life Sciences
Conference on Sept. 19.
Overall option volume in the name was 31 times greater than average
in the session, with calls outnumbering puts by 100 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.
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