Leap Reveal Has BlackBerry Limited (BBRY) Traders Active

BlackBerry Ltd (BBRY) unveiled its new handheld, the Leap, this morning

Digital Content Group
Mar 3, 2015 at 1:45 PM
facebook twitter linkedin


BlackBerry Ltd (NASDAQ:BBRY) is rallying after earlier debuting its new touchscreen handheld called the Leap. At last check, the stock was up 1.3% at $11.19. Meanwhile, in BBRY's options pits, traders are taking sides -- with some once again gambling on a move higher, and others exhibiting doubts.

Currently, BBRY options are trading nearly double the usual rate for this point in the session. Buy- and sell-to-open activity is transpiring at the weekly 3/6 11.50-strike call. By purchasing the out-of-the-money contracts, traders expect the underlying to topple $11.50 by this Friday's close, when the series expires. By contrast, the call writers are wagering on a short-term ceiling. In today's session, BBRY has surged as high as $11.45.

Meanwhile, a number of option bears are rolling the dice on a pullback for the shares. Specifically, traders are buying to open BBRY's April 11 put, in the hopes that the equity will breach $11 by the close on Friday, April 17, when the back-month options cease trading.

On the charts, BlackBerry Ltd (NASDAQ:BBRY) has been on a tear since late February, helped last week by news of a partnership with Google Inc (NASDAQ:GOOGL). Specifically, since Feb. 20, when the shares closed at $10.27, BBRY has surged 9%.

 

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! 

 


 


 
Special Offers from Schaeffer's Trading Partners