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Amarin Corporation plc Message Board

  • croesus_intervention croesus_intervention Mar 27, 2013 3:19 PM Flag

    Check out the June 11 call volume. It certainly appears to be bullish...

    Over 5000 contracts bought around .20. Someone expects this to get above 11 by June and is willing to bet $100,000 on it.

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    • According to Options-Monster they were sells and not buys so more likely covered calls, someone buying in with an upside target of 11 and getting a little bonus if it meets their target. it's possible a Short play as they mention but logically makes little sense as upside is onlt the 20 cents and you risk quite a bit.

      Here is from OptionsMonster

      Shares of Amarin bounced off a 52-week low this morning, but one trader is selling the upside.

      The June 11 calls dominate the options trade. Our data systems show that a trader sold 5,000 of those calls for $0.18. The volume is twice the open interest, so this is a new position. The call selling is well out of the money, so it could be done naked with an initial bearish bias.

      The naked short call has a negative delta, but can make a profit with shares anywhere below $11 at expiration. (See our Education Section.) It is also possible that the calls were sold against long shares as a covered call. That would be bullish up to the strike, but not beyond.

    • yep caught that this morning

3.29+0.09(+2.81%)Oct 24 4:00 PMEDT