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Show of support in Vistaprint at highs

Mike Yamamoto (mike.yamamoto@optionmonster.com)

Vistaprint ended last week with its highest close in more than three years, and traders apparently believe that any losses will be limited in the next seven weeks.

optionMONSTER's tracking systems detected heavy selling in about 2,000 September 50 puts on Friday as premiums fell from $2.30 to $1.20. These are clearly new positions, as open interest in the strike was just 2 contracts before the session began.

This put selling is looking for VPRT to stay above $50 through expiration in mid-September. If it falls below that strike price, the traders will face the obligation to buy shares of the marketing-materials retailer at that level. (See our Education section)

VPRT rose 5.28 percent to $55.01 on Friday, its highest close since April 2010 and nearly double its 52-week low of $28.17 from last November. The Netherlands-based company beat earnings and revenue estimates in its quarterly report a day earlier.   

Total option volume in the name on Friday was 11 times its daily average for the last month.


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