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 May 12, 2015 at 3:32 PM

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.

A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Latest Investor's Guide to Precious Metals
Learn how to protect savings and maximize returns by investing in precious metals.
Wall Street Reclaims Two Key Trendlines This Week
U.S.-China tensions and dire economic data still weigh, though
Dell Stock Jumps on Upbeat First Quarter
DELL announced an upbeat first-quarter report
The Latest Investor's Guide to Precious Metals
Learn how to protect savings and maximize returns by investing in precious metals.