Call Volume Spikes on Struggling Himax Technologies, Inc. (HIMX)

Call volume on Himax Technologies, Inc. (ADR) (HIMX) is through the roof today

by Alex Eppstein

Published on May 12, 2015 at 1:25 PM
Updated on Jun 24, 2020 at 10:16 AM

Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) calls have been flying off the shelves at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of late. Across those exchanges, the semiconductor stock has seen nearly 5,900 calls bought to open during the past two weeks, versus just 60 puts. The resultant 10-day call/put volume ratio of 98.05 ranks a mere 4 percentage points from a 52-week high.

Things are no different today, as HIMX gears up for its next turn in the earnings confessional, tentatively scheduled for later this month. Calls are being exchanged at 26 times the usual intraday rate, and speculators are buying to open the out-of-the-money September 7 call -- far and away the equity's most popular strike this afternoon. In so doing, these traders anticipate HIMX will topple $7 by September options expiration.

Historically speaking, the shares haven't seen the north side of $7 since late March. Going back further, Himax Technologies, Inc. (NASDAQ:HIMX) has been trending lower since touching a year-to-date high of $9.49 on Jan. 28, giving back 34.5% to rest at $6.21. What's more, the stock is currently testing resistance at its descending 40-day moving average.

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