Referenced Stocks

OmniVision bulls undeterred by rally

By optionMONSTER,  August 22, 2012, 05:31:57 AM EDT

OmniVision Technologies has been rallying, and one investor thinks the gains will continue.

optionMONSTER's Heat Seeker monitoring program detected the purchase of about 2,500 October 18 calls for $0.67. Roughly the same number of September 15 calls were sold at the same time for $1.47 to $1.57, indicating that an existing position was rolled from one contract to the other.

The investor collected a credit of approximately $0.85 and gains an additional month of upside exposure to the semiconductor company, whose products are heavily used in Apple's iPhones. It enjoyed a huge run between late 2009 and mid-2011, but then tanked as orders slowed. Business started improving this year, although excess inventory dragged on results last quarter.

OVTI rose 1.26 percent to $15.33 yesterday, and is up 24 percent in the last month. Overall option volume was almost triple the daily average, with calls outnumbering puts by a bullish 9-to-1 ratio.




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.


This article appears in: Investing, Options

Referenced Stocks: OVTI



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