The sale of 28,000 Jan out of the money calls coinciding with the sale of 28,000 Jan out of the money puts is a huge bullish bet. Jan is an awfully long hedge and if the stock falls significantly, hasta la vista baby!
Less than an hour into the trading session over 8000 Jan 21 calls have been purchased against open interest of only 55 contracts! this is hugely bullish as the premium paid for these out of the money calls was well in excess of $1 million. Someone thinks it's a good entry point. Giddy up!
Anyone think that the timing of the Jefferies presentation after the close today is a coincidence? Another partnership with big pharma? More compelling trial results? Something that will move the stock. I would think that the presentations early on or in the middle of the day would be better attended. These presentations go on all day and it just has me wondering. Could be a coincidence.
He's out there with all the other longs who are placing 60 day, $150 sell orders so the shares couldn't be borrowed by the shorts or have to be covered. I know I did that today with every OPK share I own This is called get shorty! You did that , right Buster? Buster right? Buster?
I'm guessing that OPK will have a good run into the close right before their big Jefferies presentation.
There was unusual OPK call activity yesterday. 2131 of the July 20's against open interest of only 203 and 3767 contracts of the Jan 22's against open interest of only 170. This is very bullish activity both near term and longer term (out to Jan).