A single call trade dominates today's option activity in Amkor Technologies as shares run to six-year highs.
optionMONSTER systems show that a block of 10,000 December 13 calls was sold for the bid price of $0.60 this morning. Open interest in the strike was just 479 contracts before the trade appeared, so it is a new position.
There is no corresponding action in AMKR shares today, so this could be a naked call sale, which would have an initial bearish bias. But it is more likely that the contracts were sold against an existing long-stock position in a covered-call strategy , which would be bullish up the $13 strike price but not beyond. (See our Education section)
AMKR is up 1.5 percent to $11.53, its highest price since the mid-2008. The semiconductor packaging and testing company has run up from support at $5 in mid-February.
Total option volume in AMKR already exceeds 13,200 contracts so far today, more than 6 times its daily average for the last month.
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