Trader sees cap on Athenahealth
Chris McKhann | firstname.lastname@example.org
optionMONSTER's tracking systems detected the sale of 4,316 July 115 calls for the bid price of $2.60. The volume was more than 4 times the previous open interest, showing that this is a new position.
The call selling is a bet that ATHN has seen a near-term top and will not move much above $115 before expiration at the end of this week. The calls may well be sold against long shares as a covered-call position. (See our Education section)
ATHN is down 1.7 percent to $112.35. It jumped as high as $116.18 yesterday. The medical-billing firm gapped up on Friday from below $92 after it entered an agreement with Clinical Holdings, a physician-services company.