Pandora Sees Sales in Q3 Fall 5%, Marking an Improvement

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Genworth has been performing well along with other financials, and yesterday the option activity again turned bullish on the name. optionMONSTERs Heat Seeker system detected heavy buying in the April 10 calls for $0.12 to $0.18. Then when the shares started climbing, those contracts ran up to $0.25 by late in the session. More than 26,000 of the calls changed hands, far above the strikes existing open interest of just 333 contracts, clearly showing that this is new activity. These long calls lock in the price where investors can buy shares, which can result in major leverage if a stock moves in the right direction. And thats exactly what happened yesterday with Genworth. (See our Education section) GNW closed the session up 6.69 percent to $9.09. The company, which offers insurance and investment services, is up more than 50 percent since the beginning of December. Total option volume in the name was 7 times greater than average yesterday. Overall calls outpaced puts by 7 to 1, a reflection of the bullish sentiment. Disclosure: I own GNW calls. (A version of this post appeared on InsideOptions Pro yesterday.) More From optionMONSTER Bulls take a dose of Achillion Pharma Foot Locker draws bulls before report Large show of support for U.S. Airways View comments
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