RBCN – Rubicon Technology, Inc. – Bullish investors scooped up call options on the manufacturer of innovative crystalline products for LEDs and other specialty applications this morning with shares of the underlying stock rallying as much as 9.1% to an intraday high of $30.31. RBCN’s shares are currently up 7.90% to stand at 29.79 as of 11:15 am (ET). Options players expecting Rubicon’s shares to continue to climb higher ahead of next month’s expiration day purchased 2,000 now in-the-money calls at the July $30 strike for a premium of $0.80 per contract. Call buyers make money if shares of the provider of electronic materials increase another 3.4% over the current price to surpass the effective breakeven point to the upside at $30.80 by expiration day in July.
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Andrew Wilkinson is the senior market analyst at Interactive Brokers Group, where he provides daily commentary and analysis on U.S. equity options trading throughout the trading day. Andrew provides webinars designed to explain option-related trading scenarios covering futures, fixed income, forex and equities.
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