Option traders are buying up calls on Hyatt Hotels ( H ) Wednesday. In particular, the August 60 call is getting a lot of attention. 6,464 contracts have traded so far, on open interest of 46 contracts, indicating that this new activity represents a new positions. Today's volume includes a single lot of 5,400 contract that traded a little after 1 p.m. ET. Most of the day's volume has been on the high side of the bid-ask spread, indicating that many of these new contracts are being purchased.
InvestorsKeyhole Trade Alert
IK-> The technicals for H ($54.77 up $0.24) are neutral with an upward trend. The stock has support about $54.00. Look at the Agu. 40/45 bull-put spread for a 25-cent credit. That's a 5.3% return and the stock has to fall by 17.8% to cause a problem. [InvestorsKeyhole, various news and data services]
Originally published on InvestorsObserver.com