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Smith & Wesson Holding Corporation Message Board

  • llong54@ymail.com llong54 Mar 6, 2013 4:17 PM Flag

    (l$15) Wednesday Options Brief

    SWHC - Smith & Wesson Holding Corp. - Gun manufacturer, Smith & Wesson, raised its profit and sales forecast for fiscal 2013, reported third-quarter net income that more than tripled versus the year ago quarter on a near 40% rise in sales for the period, yet shares in the firearms maker are selling off today, down 6% at $9.60 as of the midday in New York. The stock still trades up 7.5% year-to-date and nearly 80% since this time last year. One or more options traders positioning for Smith & Wesson's shares to rally sharply between now and September expiration picked up far out-of-the-money calls on the stock this morning. Traders exchanged upwards of 3,000 call options at the Sep. $15 strike against open interest of 14 contracts. Time and sales data suggests most of the volume was purchased at a premium of $0.35 apiece. Call buyers stand ready to profit at expiration in six months should shares in SWHC jump 60% to top $15.35. Shares in Smith & Wesson last traded above $15.35 back in October of 2007.

    Appears someone believes it will hit at least $15 (+ $5 from here)

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SWHC
25.84+0.51(+2.01%)Jun 24 4:00 PMEDT