Calls Purchased on Wipro Ltd (WIT)

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Shares of Wipro Limited
WIT
are lower on the session by 0.82%, currently trading at $14.53. The stock has been moving largely higher over the past three months after forming a double bottom at $11.80, which just so happened to be the 200-day moving average. Options traders are betting on further upside for shares in the coming weeks. A short while ago the November $15.00 call was purchased 1,000 times, on the offer; open interest on the strike is only 235 contracts. This signals new positioning on the name. Overall call volume is now running at 32.04x the daily average, 95% on the offer. Wipro Limited provides information technology solutions and services, including systems integration, information systems outsourcing, IT enabled services, package implementation, software application development and maintenance, and research and development services to corporations. For more great research like this, as well as how to play it through options…please visit
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Posted In: Long IdeasTechnicalsOptionsTrading IdeasInformation TechnologyIT Consulting & Other Services
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