Long Term Bull in Johnson & Johnson

Tuesday morning, Johnson & Johnson JNJ shares flirted with a new 52 week high and option activity suggested the shares have plenty of upside potential over the next year and a half. The January 2014 77.5 call saw 16,000 contracts purchased for $1.18 and, with no current open interest in this strike, this opening position would need the shares to break out above their current all time high of $72.76 set back in 2008.