Himax Technologies has been rallying since the market crashed, and traders think the move will continue into next year.
optionMONSTER's Heat Seeker monitoring program detected the purchase of 6,400 March 8 calls for $1.30. Volume eclipsed previous open interest of 160 contracts, which indicates new money was put to work.
HIMX rose 2.14 percent to $8.10 yesterday and is up 33 percent in the last month. The semiconductor stock rallied after announcing quarterly results on Aug. 7 and has been holding the same $6 support level where it bounced in 2014 and last May. Yesterday's activity reflects a belief there's greater upside over the long term.
Total option volume was 6 times greater than average in the session, with calls outnumbering puts by more than 70 to 1.
There was also bullish activity on Aug. 31 , when January 8 calls were bought for $0.70. Those same contracts have now appreciated about 50 percent to $1.
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