The bulls had high hopes in Skyworks Solutions on Friday after fellow Apple iPhone supplier OmniVision Technologies reported strong results.
OptionMonster’s tracking systems detected unusual activity early in the session, with the September 33 calls bought for $0.35 and $0.40. More than 6,500 changed hands against previous open interest of 3,404 contracts.
Calls (learn more) lock in the price investors must pay to buy shares, so they could generate some nice leverage if the chip maker keeps rallying in the near term. But if it doesn’t, they will expire worthless.