New CEO Has Cisco System, Inc. (CSCO) Bulls Hungry

Cisco Systems, Inc. (NASDAQ:CSCO) bulls have emerged after a new CEO was announced

May 4, 2015 at 11:40 AM
facebook X logo linkedin


Cisco Systems, Inc. (NASDAQ:CSCO) is 0.3% higher today at $29.22, after the company announced CEO John Chambers is stepping down, with Chuck Robbins filling the position. In response, options traders have stepped up, with calls running at an 18% mark-up to the average intraday pace. The most popular contract is the May 30 call, which it appears traders are buying to open, expecting the shares to topple $30 by the close on Friday, May 15, when front-month options expire.

Looking back, calls have been popular in CSCO's options pits for some time. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock has amassed a 50-day call/put volume ratio of 3.98 -- ranking higher than 95% of all readings from the past year. This reveals that calls have been bought to open over puts at a near-annual-high clip.

Most analysts are believers in the equity, with 19 of 26 brokerage firms deeming it a "buy" or better. Cisco Systems, Inc.'s (NASDAQ:CSCO) technical success may be one reason for this optimism. Over the past 12 months, the stock has added 27.3%, and is currently on the doorstep of its multi-year peak of $30.31 from early March.

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!

 

 
 
 


 
 

Rainmaker Ads CGI