Unisys bull positions for more upside
Chris McKhann | email@example.com
The information-technology company is up 6.05 percent to $19.28, continuing to spike higher since trading below $15 at Tuesday's low. Despite the gains, however, UIS has been trending lower from its 52-week high of $27.43 set in late October.
More than 14,000 UIS options have already changed hands so far today, 10 times its full-session average in the last month. A trader sold 2,500 July 17 calls for the bid price of $2.15 against open interest of 3,927 and bought 6,000 July 19 calls for the ask of $0.95, according to optionMONSTER's Heat Seeker system.
The trader is very likely rolling the position to a higher strike while doubling its size, reflecting a belief that the bull run isn't over. (See our Education section)