Options Traders Jumping On This Software Maker
Adobe Systems is up nearly 5 percent Tuesday — and continues to see call activity.
The call buying began around a week ago, when we reported volume approaching four times the daily average for the maker of Photostop, Flash, and other popular software.
Today, trading continued to surge at the February 22.5 calls, which now go for more than $2.40 as opposed to the $1 price last Tuesday.
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Since then, ADBE shares have risen from $21.05 to $24.23 in midday trading today. The company announced this morning that it is partnering with Broadcom to bring Flash technology to digital TV set-top boxes, allowing the development of computer-like graphics.
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Jon 'DRJ' Najarian is a professional investor, CNBC contributor, and cofounder of OptionMonster.com.