Call options on Yandex ( YNDX ) are moving at a rapid clip Wednesday. In particular, 7,456 contracts of the Aug. 34 call have changed hands against open interest of 96. Pricing has generally been in the high half of the spread, indicating these contracts are being initiated from the buy side.
InvestorsKeyhole Trade Alert
IK-> The technicals for YNDX ($32.44 down $1.10) are bearish with a downward trend. The stock has support about $31. Look at the May 28/29.50 bull-put spread for a 20-cent credit. That's an 15.4% return and the stock has to fall by 9.1% to cause a problem. [InvestorsKeyhole, various news and data services]
Originally published on InvestorsObserver.com