| Is Thermo Fisher breaking out? | |
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(The following is an example of notable trading cited on optionMONSTER's InsideOptions Pro service yesterday.)
Traders are looking for Thermo Fisher Scientific to break out in coming weeks.
optionMONSTER's Heat Seeker system shows that more than 10,000 July 130 calls were bought yesterday, dwarfing the previous open interest of just 542 contracts. The first blocks priced for $1.65 to $2 and were followed by prints as high as $3.20.
Long calls lock in the price where investors can buy a stock, which lets them position for a rally with limited capital. That can be safer than purchasing shares directly because only the cost of the options can be lost on a pullback. The calls can be sold anytime before they expire, but they will lose value if the stock falls. (See our Education section)
TMO rose 0.56 percent to $130.27 yesterday and is parked at its 50-day moving average. The maker of medical and diagnostic equipment gapped down from above $134 after its last earnings report on April 22 but then settled into a tight range this month. The quarterly results are expected the week after yesterday's calls expire.
Overall option volume in the name topped 15,000 contracts yesterday, 27 times its daily average for the last month. Calls accounting for a bullish 90 percent of the total.
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Thermo Fisher is based in United states of america. Thermo Fisher is listed in United States of America. Its market capitalisation is US$ 224.4 billions as of today (€ 209.7 billions). Its stock quote reached its lowest recent point on November 15, 2013 at US$ 100.01, and its highest recent level on April 26, 2024 at US$ 573.60. Thermo Fisher has 391 220 000 shares outstanding. |