Options Flow Summary: CBAK
China BAK Battery, Inc. (CBAK)
Options on CBAK are trading 60 times its average daily options volume today. 2,819 Oct-07 7.5 calls and 2,176 Dec-07 7.5 calls have traded with buyers seen in both. Unusual options volume was noted yesterday with CBAK trading 18 times its average daily volume. Also, it traded 5 times its average daily options volume on Monday.
Over the previous week, just about 60% of the volume has been bullish in terms of direction. Consequently, we should not be surprised that the stock is up almost 30% to $6.62 today. CBAK manufactures and distributes standard and customized batteries. Unless there is some news that has yet to be announced, it appears that a lack of liquidity may be driving this move.
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