Bullish option flow in Infosys as share rally ahead of earnings
Bullish option flow in Infosys as share rally ahead of earnings. The stock up 80c to $18.15 and 5.1K Apr 19 calls trade for 35c when bid-ask was 25 to 30c. 6.5K trade at that strike against 3.5K open interest. Meanwhile, a 2.5K lot of May 19 calls trades for 45c when bid-ask was 35 to 45c. 3.6K traded at that line and 4.3K Apr 18 calls have changed hands as well. Total volume is 11X daily average and lopsided 8:1 at 15K calls and 1.8K puts. The company is due to report results tomorrow morning, but is not really a big earnings mover: shares lost 2.7% to $16.81 on 1/12/18 after the last report and have seen average daily post-earnings moves of 4.8% over the past two years.