Akamai calls see unusual option activity The provider of services for improving speed for downloading and streaming content Akamai (AKAM), is seeing unusual option activity with shares up 5.5% at $20.29 a share. The interest is focused on the call side in the front month July contract. The 18, 19. 20 and 21 strikes are all seeing interest with a total of 23k calls hitting the tape. Most of the activity took place in the first two hours of trading today and has seen a slow down since then. Order flow is showing a lot trades taking the bid side but the top trade of the day is purchase of 1,175 July 19 calls for $1.40. Implied volatility is up about 6% at 55% from yesterday's close.
Shares are seeing an increase in equity volume with today's move but, seeing overhead resistance at $20.40, which could be the reason we see a lot of trades taking the bid, selling into this move.
(This is a version of what appeared in our Trader Pro Service today)
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