Mersh, I'm looking at the Yahoo Finance options chain for July, today's volume.
Check now, before they clear it.
On first glance, it appears someone opened a position.
I'm guessing, but I'll say sold the July $2.5 puts, bought the July $4 calls, and sold the July $5 calls to pay for half of the $4's they bought.
To say the least, if I'm right, this is extremely bullish.
Keep in mind on options... This !!!
Don't think of the opening transactions as "buy side."
Think of the the transactions as seller side. After all , the seller owns the shares.
Always think of options from the SELL side. After 35 years of this stuff, this lesson taught me the most.
LOOK AT OPTIONS AS SELL SIDE ONLY TRANS...(even options Monster looks at buyside.. They know better, they are just enticing novices in...)
This transaction indicates a big move up for AFFY before July OE..
As always, JMHO and DO NOT FOLOW ME OFF THE CLIFF.