Virgin Media is caught in a tug of war

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The bulls and bears are fighting for control over Virgin Media as the stock eyes new highs.

VMED is down 0.98 percent to $32.50 after hitting $32.95 after the open, just below its 52-week highs. Shares of the U.K.-based cable and media and company bounced hard off support under $22 at the beginning of June and have been running higher ever since.

optionMONSTER's Depth Charge system detected early buying in the December 32 puts, which saw 2,000 contracts trade for $1. But our Heat Seeker program then showed that 5,000 March 37 calls were purchased for $0.50.

The volume at each strike was well above open interest at the beginning of the day, indicating new activity. Overall option volume at all strikes is already 5 times its full-session average, and calls outnumber puts by nearly 2 to 1.

(A version of this post appeared on InsideOptions Pro this morning.)



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: VMED

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