Online ad company ValueClick is burning bright with call activity Tuesday, as a new report shows that Internet advertising grew 10.6 percent to $23.4 billion last year.
Shares of VCLK jumped at the open and are still up 6.5 percent on the day to $8.36, as of this writing. Calls were trading heavily at April and May strikes, though the April 10 activity drew the most attention.
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The average trading volume of VCLK is less than 600 contracts, but more than 4,000 change hands in the first hour of the day in the April 10 calls alone. The buying began at $0.15 and now the market for the VCLK April 10 calls is $0.25-$0.30, while the VCLK May 10 calls trade $0.55-$0.60 with volume at more than 3,400 contracts.
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ValueClick, which provides online advertising for agencies and customers, rests in the sweet spot of growth. The stock has been performing well in the last few weeks but may have hit a level of resistance just under $9.
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