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October 19, 2012  Fri 12:20 PM CT

VMED: SEE CHART GET CHAIN FIND STRATEGIES
The bulls and bears are fighting for control over Virgin Media as the stock eyes new highs.

VMED is down 0.98 percent to $32.50 after hitting $32.95 after the open, just below its 52-week highs. Shares of the U.K.-based cable and media and company bounced hard off support under $22 at the beginning of June and have been running higher ever since.

optionMONSTER's Depth Charge system detected early buying in the December 32 puts, which saw 2,000 contracts trade for $1. But our Heat Seeker program then showed that 5,000 March 37 calls were purchased for $0.50.

The volume at each strike was well above open interest at the beginning of the day, indicating new activity. Overall option volume at all strikes is already 5 times its full-session average, and calls outnumber puts by nearly 2 to 1.

(A version of this post appeared on InsideOptions Pro this morning.)
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