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writer, OptionMonster, oracle
The bulls stampeded into Oracle today after the database maker reported better-than-expected earnings results and issued a strong forecast for the next quarter.
The August 24 calls were the most active options, trading 12,300 times for $0.15 to $0.24. Volume was more than 70 times open interest, and a single large purchase for $0.20 generated more than half the volume. The July 20 calls and January 20 calls were also active, but volume was below open interest, according to OptionMonster's tracking systems.
ORCL [ORCL
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] is up more than 9 percent to $21.67 in midday trading on heavy volume in stock and options. The company, which has grown dramatically through acquisitions, reported a smaller-than-expected decline in sales of new software licenses in the fiscal fourth quarter. Management also said their products enjoyed broad market-share gains against rival SAP.
New money also flowed into ORCL's September 21 puts, probably reflecting protection buying on the part of new shareholders. The puts traded 7,791 times for $1.15 to $1.50 against open interest of 4,137 contracts.
Overall options volume was more than thee times average, with calls outnumbering puts by more than 3 to 2.
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Options Trading School:
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David Russell is a reporter and writer for OptionMonster.
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Data is a real-time snapshot *Data is delayed at least 15 minutes