Dan Nathan Sees Unusually High Bullish Options Activity In QUALCOMM
CNBC Options Action's Dan Nathan spoke on the show about QUALCOMM, Inc. (NASDAQ: QCOM). He noticed that options volume was 1.5 times higher than the average volume and most of it came in one very bullish trade.
When the stock was trading at $67.50 a trader sold 20,000 contracts of the January 60 puts and bought 20,000 contracts of the January 70 call options and payed a total of $0.80 for the structure.
Nathan explained that $60 has been a support and $70 a resistance for QUALCOMM.
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