Shares of Juniper Networks (JNPR) are trading higher on the session by 0.28%, at $17.80. The stock has been consolidating above the 20-day and 50-day moving averages for the past two weeks and appears to be finding support.
Options traders are betting on further upside in the name today. The vast majority of the action is coming on the October $19.00 call, where over 5,250 contracts have traded on open interest of only 2,296. This indicates fresh positioning on the name.
There have been a few major blocks trading on the strike. This first was 1,877 contracts, which was purchased on the offer for $0.64-0.65. Seconds after, a 1,112 contract block was bought, on the offer, for $0.66. A minute later, 1,659 contracts traded on the bid for $0.68.
It is unclear if the third block was part of the first two and went off on the bid due to a rising share price at the time, or if it is an isolated trade. Tomorrow?s open interest data will help confirm that.
Near-term implied and historical volatility is registering 37% and 31%, respectively. They recently converge after carrying a 24 point spread at the beginning of August.
Juniper Networks, Inc. designs, develops, and sells products and services that together provide its customers with network infrastructure. Its segments: Infrastructure and Service Layer Technologies.