3D Sys Option Alert: May 17 $7 Calls Sweep (12) near the Ask: 2292 @ $0.5 vs 110 OI; Ref=$5.21
Portfolio Pulse from Charles Gross
There was a notable options trading activity for 3D Systems Corporation, where a sweep of May 17 $7 call options was executed near the ask price, involving 2,292 contracts at $0.5 each compared to an open interest of 110 contracts, with the underlying stock reference price at $5.21.
November 27, 2023 | 4:42 pm
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The large volume of call options for 3D Systems suggests increased investor interest or speculation that the stock may rise above the strike price of $7 by May 17. This could potentially lead to a short-term increase in the stock price due to the bullish sentiment.
The high volume of call options compared to the open interest indicates a significant interest in these options, which are bets that the stock will increase in price. This kind of activity often leads to a bullish sentiment in the market, which can cause a short-term rise in the stock price as other investors may interpret this as a positive signal and could potentially follow the trend.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80