Bulls Betting on Synchronoss Technologies (SNCR)
March 21, 2011 10:31 AM
Shares of Synchronoss Technologies (NASDAQ: SNCR) are higher on the session by 5.87%, currently trading at $33.00. The stock has been moving largely higher over the past six months and is currently trading above the50-day and 200-day moving averages.
Options traders are buying calls on the name today. A short while ago the April 2011 $30.00 call was purchased 2,500 times, on the offer, on open interest of only 14 contracts. This signals new positioning on the strike.
Overall call volume is now running at 16.76x the daily average with 86% of all calls traded being purchases on the offer.
Synchronoss Technologies, Inc. is a provider of on-demand transaction management platforms. This includes automating subscriber activation, order management and service provisioning from any channel (e-commerce, telesales, customer stores, indirect and other retail outlets) to any communication service, high-speed access, local access, Internet protocol television, cable, satellite television across any connected device type.
