Last month, we tipped you to a highly unusual trade when 20,000 ORCL June 44 calls were bought. At the time, Oracle ORCL – NYSE was peaking at the tail end of a 7% rally, and shares have since consolidated sideways leading into earnings yesterday afternoon. What happened next?
ORCL reported blowout numbers, beating on both top and bottom lines and also raising the stock’s dividend. Wall Street loved the announcement, and rewarded ORCL with a 7.8% pop at the open this morning.
This explosive gap sent the ORCL June 44 calls soaring, trading over $3 early in today’s session. With gains of over 200% in hand, shockingly it doesn’t look like this trader sold.
Bottarelli Research Live members, on the other hand, gladly locked in profits. Based on the original order we tracked coupled with other unusual call buying and a strong technical setup, we advised subscribers to speculate on earnings and buy the ORCL March 43.5 calls on Monday for $0.43 apiece. Today, we flipped our contracts for $3.20, good for 644% in just two days. Interested in test-driving our trades? Click here for a free trial.
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