Option Bulls Jump On Harman International Industries Inc. (HAR)

Harman International Industries Inc./DE/ (HAR) hit a seven-year high earlier

Digital Content Group
Jan 29, 2015 at 11:23 AM
facebook twitter linkedin

Harman International Industries Inc./DE/ (NYSE:HAR) is the largest gainer on the Big Board at midday -- up nearly 19% at $119.88 -- thanks to a fiscal second-quarter earnings blowout and strategic collaboration with Baidu Inc (ADR) (NASDAQ:BIDU). Earlier, in fact, the stock touched a seven-year high of $121.96. These developments aren't lost on option bulls, either.

Specifically, HAR calls are crossing at 20 times the usual intraday clip, with buy-to-open activity detected at the February 125 call. These buyers anticipate the stock will extend its upward momentum through the close on Friday, Feb. 20 -- when front-month options expire -- and settle atop $125, territory not charted since April 2007.

HAR's technical strength has been on display for some time now. Year-over-year, the shares have advanced more than 17%, and have recently taken a couple of strong bounces off their 20-month moving average.

Today's options traders have bullish company among the analyst crowd. Specifically, 75% of the brokerage firms tracking Harman International Industries Inc./DE/ (NYSE:HAR) have doled out "buy" or better ratings.

Monthly Chart of HAR since January 2007 with 20-Month Moving Average


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 


300x250 - Banner 3 - v1