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Xyratex Ltd. Şti. Message Board

  • crwolfersberger crwolfersberger Aug 30, 2010 1:51 PM Flag

    Call Option Premiums Going Up

    XRTX has been drifting back from $12.60 today but the call premiums continue to rise. The ask for Dec $15 calls was $0.80 when the stock was at around $12.55. Now the same calls have a bid of $0.80 and an ask of $1.00 with XRTX trading at $12.35.

    Probably is partly driven by the fact that **920** Sept $15 call options were bought today. I am still skeptical about a buyout of XRTX for several reasons, but when short-term, out of the money call options start selling in large volumes, that catches my interest. XRTX must rise another 21% in 14 days for these options to be in the money.

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    • Another 640+ Sept $15 calls, 496 Oct $15 calls and 236 Dec $15 calls have been bought so far today... Buying calls near the stock price usually doesn't support any buyout roumors. However, the deep out-of the money 250 March $20 calls just bought today may mean something.... Probably nothing though since the calls are long term.

      Now, if the volume for $17.50 Oct calls or $20 Dec calls picks up, then there may be some truth to any buyout roumor.

    • Call volume not heavy today but another 107 Sept $15 calls were bought plus 100 calls in with Oct expiration. So, only $1,600 was laid on the betting table today that the stock would appreciate 25% by Sept. 17th. MAYBE a 25% rise between now and after the ER at the end of Sept but I don't see XRTX over $15 by Sept 17th.

      13 trading days left until expiration....

    • 1800 total across 4 months all OTM with a holiday weekend coming also.

      Probably not inside info but I'm adding a few just in case. Will be interesting to see how the next few days shape up.

 
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