Markets

Trader bets that Splunk will rise

An option trader made a bullish bet Monday on a rally from Splunk ( SPLK ). A lot of 1,000 contracts of the May 115 call crossed the tape at 12:07 this afternoon, against open interest of 232 contracts. That trade, which moved at the high price of the day, was also high in the bid-ask spread, indicating that it was likely initiated from the buy side.

InvestorsKeyhole Trade Alert

IK-> The technicals for SPLK ($101.85 down $0.47) are bullish with an upward trend. The stock has support about $92.85. Look at the April 87.50/90 bull-put spread for a 20-cent credit. That's an 8.7% return and the stock has to fall by 11.6% to cause a problem. [InvestorsKeyhole, various news and data services]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Originally published on InvestorsObserver.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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