I'm new to this stock, but ran across this when one of my stock screeners picked up unusual option activity in EGO. Close to 48K options were traded on the July 10 calls on Friday. After doing some research into EGO, this looks like a great buying opportunity especially with the big money placing large bets in the options market.
ive seen the same thing happen many times .........several weeks ago someone bought/sold a huge amount of options in kgc.........optionmonster came out that day and said it was someone perparing for a sharp move up.........wrong they expired worthless.........there is alwaya a market maker willing to take either side of a position....you can sell them or buy them markett maker will take youre action......therefore i conclude its nothing but speculation by the person opening the position
The fact that 45,000 traded hands is significant. Neither side wants to lose money. What is the current short position in EGO? It doesnt look like someone is hedging. Someone is betting it goes up before summer and they want to risk more than just buying (and soemone thinks there wrong.)