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VHC Action: // A Quiet Day for VHC as Another Brick is Laid'Twas another somewhat manic day in the NAZ, but with VHC it was another placid day of light trading and a stable pps, even though 24K shares at the open pushed it down to $3.84, from whence VHC reclaimed it's previous closing price. We have seen a few VHC market opens where a block of shares is sold. I'm still going with someone(s) having to cover a margin call as the reason. This is purely speculative and I have zero evidence to support this supposition. So here's what happened today: PPS: $3.98, up 2 cents Range: $3.84 - $4.07 (down 3 cents on the low end, down 4 cents on the high end) Share Volume: 291K, down 98K shares Option Volume: 306 (242C, 64P), up 108 IV: 89%, up 12% VWAP: $3.944, down $0.038 Takeaways: Even though VHC closed up 2 cents, its trading range and VWAP told the more accurate story of today being more of flat to slightly down day, but only by a few cents. IV did perk up to 89%, the only positive I can see from the above data. What to Watch For: If one is looking for a significant increase in VHC, one would expect to see 1) rising share volume; 2) expanding/higher trading ranges; and 3) increased option activity. So keep an eye out. In the meantime, another ~$4 brick is laid down on the chart. Most Active Series Oct Call 4's (102) Top Bullish Trades 1) 10 Mar Put 5's sold for $1.70 ($1700) 2) 20 Jan 2020 Call 7's bought for $0.75 ($1500) Top Bearish/Hedging Trades 3) 19 Jan 2020 Call 3's sold for $1.91 ($3629) 4) 10 Jan 2020 Call 5's sold for $1.50 ($1500) 5) 10 Jan 2019 Put 5's bought for $1.50 ($1500) Summary: Even with light volume in the pit, option players continue to show evenly split VHC theses, with some bullish and others bearish. Cheers. |
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