Hansen Medical ripped higher on Friday, and one investor is confident there's no going back.
optionMONSTER's tracking systems detected the sale of 4,000 June 2.50 puts for $0.70 against open interest of just 180 contracts. If HNSN stays above $2.50 through expiration, the trader will keep the credit and the puts will expire worthless.
HNSN, whose revenue is growing at about 50 percent annually, rose 15 percent to $2.62. The small-cap maker of robotic surgical devices has been on a wild ride, ripping from $1.30 to $5 between December 2010 and July, and then proceeded to lose half its value.
Friday's surge came amid a rally in the broader market and after the company announced that it had obtained a $30 million bank line. The shares also seem to have found support around the same $2 that was resistance late last year, which some chart watchers may consider evidence of a bullish uptrend.
Overall option volume was 42 times greater than average in the session.
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