Upside Calls Active on Skyworks Solutions (SWKS)
Shares of Skyworks Solutions (SWKS) are trading higher this morning by 1.87%, at $29.95. The stock has been trending higher over the past two months, basing above the 50-day and 200-day moving averages.
Skyworks Solutions appears ready to break out to the upside, which would be an eight-month high.
Options traders are betting on a move higher as well. A short while ago, the September $33 call was purchased 5,144 times, on the offer, for $0.35. Volume has since increase to over 6,000 contracts; open interest is only 3,404, indicating new positioning.
Overall call volume is running at 3.54x the daily average with 7,958 calls traded.
Interesting to note is the divergence between implied and historical volatility; IV is currently registering 45%, while HV is only 25%. The Sept $33 calls traded at 44% vol.
Skyworks Solutions, Inc. offers analog and mixed signal semiconductors. Skyworks offers custom linear products supporting automotive, broadband, cellular infrastructure, energy management, industrial, medical, military and cellular handset applications.
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