Applied Materials Inc. (NASDAQ: AMAT) had a sudden surge in December $13 calls that traded 25,299 contracts against an open interest of 15,631 contracts, with large blocks being bought at the offer and shares trading to session highs. Applied Materials has the best of both worlds with chip stocks and solar stocks strong today. Shares trade 13X forward earnings. AMAT is presenting at the Credit Suisse Conference tomorrow at 11:30am and the Barclay’s Conference on December 9th. Call volume exceeds 30,000 on the day, more than 3X average volume…. This is interesting considering that earnings were barely three weeks ago. Shares are up 4.5% at $12.87 along with the strong chip stocks sector.
Joe Kunkle, OptionsHawk.com
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