Business Magazine

KING Call Options Active

Posted on the 27 June 2014 by Phil's Stock World @philstockworld

Traders are snapping up call options on King Digital (Ticker: KING) this morning as shares in the maker of Candy Crush Saga and other mobile games rally to their highest level in a week. KING shares are up 3.5% as of 10:30 am ET to stand at $17.60, though the stock is still well below its IPO price of $22.50.
Fresh interest in July expiry call options today suggests some traders are positioning for the price of the underlying to continue higher in the near term. The Jul 18.0 strike calls are the most traded contracts on the stock, with upwards of 5,500 contracts in play against open interest of 829. Time and sales data suggests most of the volume was purchased for an average traded price of $0.56 each. Buyers of the 18.0 calls stand ready to profit at expiration next month in the event that KING shares rally another 5.5% over the current price of $17.60 to exceed the average breakeven price of $18.56. Shares last traded above $18.56 back on May 7th.
Overall options volume on KING is well above the stock’s average daily reading, with more than 6,700 contracts in play thus far in the session versus an average daily level of around 1,200 contracts. The heavy interest in July expiry calls has pushed the call/put ratio on the stock to roughly 70.0 as of the time of this writing.

This article will become free after 48 hours (see below for free content). To read the rest of this article now, along with Phil's live intra-day comments, live trading ideas, Phil's market calls, additional member comments, and other members-only features - Subscribe to Phil's Stock World by clicking here.

Email This Post
 Email This Post  
KING Call Options Active
KING Call Options Active
KING Call Options Active   Google+  

Tags: KING

This entry was posted on Friday, June 27th, 2014 at 2:57 pm and is filed under Uncategorized. You can leave a response, or trackback from your own site.

Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!

Back to Featured Articles on Logo Paperblog