The bulls apparently want to operate with Mindray Medical as the
Chinese company prepares to report quarterly results this
afternoon.
optionMONSTER's Heat Seeker monitoring program detected the
purchase of 2,500 August 30 calls for $2.10. Volume was more than 6
times open interest in the strike, indicating new activity.
MR is up 2.32 percent to $31.32 in late morning trading. The maker
of patient-monitoring equipment climbed as high as $34 by the end
of the first quarter after strong financial reports earlier in the
year, but the stock then pulled back through the middle of last
month.
Today's options will closely track upside in the share price
because they're in the money and have a delta of 0.68. If MR climbs
just 12 percent to $35, those options will more than double in
value.
More than 2,500 contracts have traded so far today, almost 16 times
the regular daily average. Calls outnumber puts by more than 200 to
1.
