At the Money Calls Active on QLogic (QLGC)

Options Unusual Activity

At the Money Calls Active on QLogic (QLGC)

Posted August 21st, 2012 by The Options Insider in Unusual Activity

Shares of QLogic (QLGC) are trading higher on the session by 1.34%, at $12.51. After a slow bleed lower over the past five months, shares washed out on July 27^th and have been making their way higher ever since. QLogic is currently testing the 50-day moving average.

One option trader is interested in at-the-money calls today. The October $12.50 call traded 5,052 times, between the bid/ask, for $0.65-0.70. Overall volume on the strike has ticked minimally higher since the trade, now registering 5,211 contracts.

Given the current open interest of 15,343, we cannot confirm if this is an opening or closing trade at this moment.

Near-term historical and implied volatility are diverging massively at the moment, at 55% and 33% respectively. The Oct $12.50 call traded at just 32% vol.

QLogic Corporation designs and supplies network infrastructure products that provide and manage computer data communication. The company's products are used in enterprise data centers, cloud computing, Web 2.0 and other environments.