Amphenol has been ripping higher in the last month, and one
investor wants to give the stock even more room to run.
optionMONSTER's monitoring programs detected the sale of about
2,200 September 65 calls for $0.70. A similar number of August 50
calls were bought at the same time for $2.30, but volume was below
open interest in those. This suggests that an existing short
position was closed in the front month and rolled forward to
The trader probably owns shares and had previously sold the August
calls to manage risk. Adjusting the position now cost $1.60 but
will let him or her collect an additional $5 of upside on the stock
if it continues to climb. The trader also agreed to remain in the
position for an additional month.
APH rose 1.69 percent to $61.36 yesterday and is within $1 of an
all-time high. The company, which sells myriad electrical supplies,
is up 35 percent this year after a string of positive earnings
Overall option volume was 15 times greater than average in the
session, with calls outnumbering puts by more than 20 to 1.
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