Over the last two weeks RFMD and TQNT have been powerful while the Market has not been. When RFMD was $10, big buyers of the Sept $12s and $13s were big, today during the pull-back I bought 140 Sept $11 Calls for $.80 per contract. RFMD and TQNT are suppose to combine and create a monster company, they have both beaten earnings expectations, crushing estimates over the last few Qs.
The Chart is scary to the Fast Money guy who also joined us, but he bought in RFMD at a higher price! You could get it cheaper than him and Traders who bought Sept $13s at $.60 if we start to tank. I like going out further in time but the action is centered for the September 20 Calls at $12-$13 price points. They paid $.40-$.60, if you get your RFMD September $11s or $10s for $.80, your far ahead of people who paid $.60 on the $13.00s!
Open Interest Sept $13 Calls is 15,895, this week my scanner picked up a 22,000 call trade on Sept's $13 Strike.
The Chart is scary to the Fast Money guy who also joined us, but he bought in RFMD at a higher price! You could get it cheaper than him and Traders who bought Sept $13s at $.60 if we start to tank. I like going out further in time but the action is centered for the September 20 Calls at $12-$13 price points. They paid $.40-$.60, if you get your RFMD September $11s or $10s for $.80, your far ahead of people who paid $.60 on the $13.00s!
Open Interest Sept $13 Calls is 15,895, this week my scanner picked up a 22,000 call trade on Sept's $13 Strike.
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