What's in the Q?
by Houghton and Atkeson 04/29/09
Free Trading Guides
QLogic (QLGC) simplifies the process of networking with the only end-to-end infrastructure solution in the industry.
QLGC is up 8.4% today and the options are trading 12-times normal volume. In advance of earnings, which are scheduled to be released tomorrow after the close, market participants have traded nearly 23,000 calls versus 2,500 puts -- this is greater than total open interest of 12,864 calls and 10,656 puts.
The majority of the calls have traded on the ask. Although short interest is only 7.5%, it is up 36% from the last report, some shorts could be hedging their bets.
Whether or not institutions are hedging, it feels bullish and the stock is responding.
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