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]
Originally published on InvestorsObserver.com