Traders Bullish on Flextronics International (FLEX)
October 25, 2010 10:36 AM
Shares of Flextronics International Ltd. (NASDAQ: FLEX) are higher on the session by 1.12%, trading at $6.30. The stock has been moving largely higher over the past two months and is now testing the 50-day and 200-day moving averages. A break above the 200-day and FLEX is clear to run to $6.84, then $7.00.
Options traders are buying calls on FLEX today. A short while ago the April 2011 $7.00 call was purchased 1,000 times, on the offer, on open interest of only 632 contracts.
Overall call volume is now running at 2.00x the daily average, with 88% of all calls traded being purchased on the offer.
Flextronics International Ltd. is a provider of vertically-integrated advanced design and electronics manufacturing services to original equipment manufacturers. It provides these services to various markets, which include infrastructure, mobile communication devices, computing, consumer digital devices, industrial, semiconductor capital equipment, clean technology, aerospace and defense, and white goods, automotive and marine and medical devices.
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