Juniper Networks has been coming to life, and the options continue to flow.
optionMONSTER's Heat Seeker monitoring program has shown aggressive call buying in the provider of telecom equipment over the last week. Traders targeted the July 21s for $2.85 on Thursday and returned to the April 22s for $1.92 the next day . And now the activity is getting even shorter term.
This time, almost 5,000 Weekly 21.50 calls expiring on Jan. 10 were sold for $1.30 and 8,500 Weekly 23 calls expiring in the same session were bought for $0.43. Volume was below open interest in the 21.50s, so it appears that an existing long position was closed and rolled to the higher strike.
Making the adjustment lets the investor collect a credit of $284,500 while allowing him or her to keep benefiting from potential gains in the share price. (See our Education section)
JNPR is up 1.51 percent to $22.56 in afternoon trading and has risen 21 percent since the beginning of last month. While it's lagged the broader market since early 2011, the company has beaten estimates in its last two earnings reports and now sentiment is shifting in favor of technology stocks.
Total option volume is more than twice the daily average so far today, according to the Heat Seeker. Calls outnumber puts by a bullish 20-to-1 ratio.
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