Bulls think Fiserv still has room to run
Mike Yamamoto | [email protected]
More than 3,000 June 75 calls were bought for $0.40 and $0.45 yesterday, according to optionMONSTER's Heat Seeker system. The previous open interest was just 125 contracts, so these are new positions.
FISV closed yesterday down 1.02 percent to $65.21. The company met fourth-quarter earnings estimates and beat revenue forecasts after last Thursday's close and spiked to a lifetime high of $60.66 the day after.
For the calls purchased yesterday to turn a profit, the stock would need to gain nearly 16 percent by the time they expire in mid-June.
Option volume in the name totaled 3,177, more than 12 times its daily average. Only 7 puts traded in the entire session, a reflection of yesterday's bullish bias.