Electronic Arts Filling a Gap
Symbols: EA
Electronic Arts (NASDAQ: ERTS) has been basing sideways for the past two months after a large one day selloff in the name. Over the last three days, however, the stock has inched higher and looks to be breaking out to the upside, with the top of the gap the next target level. The stock is currently trading $17.60, up 2% on the day, and it looks like it can bee-line for $18.27 with no problem.
One trader is picking up the Feb $19 calls to play this jump in the name. The calls were bought on the offer nearly 6,500 times on an open interest of barely 1,900 contracts.
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