The Market Vectors Semiconductor ETF SMH – NYSE once again closed at new all-time highs today. Entegris ENTG – NASDAQ broke out to uncharted levels, attracting an unusual order in the process when someone bought 1,500 ENTG May 22.5 calls for roughly $1.55 per contract.
While the capital outlay totaled a mere $232,500, this individual order equates to over 68 times the average daily volume of 22 call options traded in ENTG.
Given a break-even price at expiration of $24.05, ENTG has to increase 3% for this trade to pay off. Above this level, our trader is poised to make $150,000 for each dollar increment higher.
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