Oracle Corp. (NASDAQ: ORCL) just had a trader buy 10,000 December $24 calls at the offer, shares recovering off days lows here and $22.75 a big resistance level. Earlier this morning more than 18,000 November $23 calls traded, some closing positions, but indications from order flow show the calls were being bought, many to open. Oracle has already traded 38,000 calls on the day, twice the daily average, and more than half at the offer. In comparison, only 6,800 puts have traded. Oracle implied volatility is up 13% on the day, from 24% to 26%, a rather large move in the Large Cap Tech Stock. Oracle will host an Investor Conference on October 27th, likely the reason for the bullish positioning. (12:05 PM EST)
UPDATE AT 12:15 PM EST: “another 10K of those Dec 24’s just bought in ORCL.”
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