Early Call Buyer in Acme Packet
Acme Packet (NASDAQ: APKT) is slated to report its quarterly earnings Thursday.
With the shares trading near $17.24 Wednesday, an opening buyer would pay $0.50 for 3,000 August 19 calls. This trade accounts for nearly all of the option volume in APKT and surpasses the company's average daily call volume. The stock set a new 52-week low of $14.92 earlier this month, but has since managed to recoup more than 15% of its value.
Wednesday's call buyer will need the shares to pop at least another 13.1% over the next 3 weeks to begin to see any profits.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.