Just over a week ago our HeatSeeker found an extremely large buyer of July 48 calls and simultaneous selling of the July 42 puts in ONXX. We jumped on the wave, following the "tell" that some big money trader thought good news was right around the corner.
Sure enough, ONXX got that GREAT news this week and our trade EXPLODED into our biggest gain of the year! Here is a look at our update:
Now we understand that not everyone is comfortable buying calls and selling puts (risk reversal), so I won't even quote the mind-blowing return on that strategy, but I will point out that the calls alone went from $2.50 to $18.20, a monumental gain of 728%.
Here is the move of those ONXX July 48 calls over the past 10 days from our Trademonster platform:
