Options Brief: Altera (ALTR)

ALTR – Altera Corp. – Shares of the global semiconductor company rallied 2.00% to $27.39 in the first half of the trading session inspiring investor demand for call options on the stock. Bullish players expecting Altera’s shares to continue to appreciate and attain a new 52-week high by August expiration scooped up roughly 7,500 calls at the August $28 strike for an average premium of $0.85 per contract. Call buyers make money if shares of the underlying stock surge 5.33% over the current price to trade above the average breakeven point at $28.85 by expiration day next month. The current 52-week high on Altera Corp. is $27.48 attained back on April 21, 2010.

About Andrew Wilkinson 1023 Articles

Affiliation: Interactive Brokers

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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