Traders think Navistar has more gas

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NAV Navistar is trucking higher once again after a sharp pullback earlier in the year.

optionMONSTER's Heat Seeker found activity in the January 55 calls and the January 65 calls on Friday. The trade appeared to be a vertical spread, with the 55s bought for $1.55 to approximately $1.84 and the 65s sold for $0.17 to $0.30. (See our Education section)

Volume was about 2,000 contracts in each strike. Total option volume in NAV is 6 times greater than average Friday, and calls account for 96 percent of the paper.

Navistar, which makes trucks, engines, and associated parts, reported weak earnings in its last release on Sept. 8. Since then the stock found support at $40, rebounded higher, and now is back above its 200-day moving average (purple line on chart). It's finished last week at $49.53, up 4.74 on the session.

(A version of this post appeared on InsideOptions on Friday. Chart courtesy of tradeMONSTER.)



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: NAV

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