I tweeted on Friday some unusual option activity in BC way out in Jan and at the $15 strike and the stock had an impressive day as some short covering may have occurred. What I like about this stock is that there is major price action up around $14 and the stock closed Friday just over $11. While the number of shares short fluctuates, the days to cover increases and that gives way to a large pop in the stock. I’m waiting to see a pullback to test the newly formed support around $10.60 and would look to get long in that area.
- Post author:Darren Miller, Ph.D.
- Post published:Saturday, September 26, 2009
- Post category:Commentary