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Videos Daily Market Wrap up Paccar PCAR hits a new 52 week high but large stock and option call buyers saw the breakout coming the day before

Paccar PCAR hits a new 52 week high but large stock and option call buyers saw the breakout coming the day before

Paccar (PCAR) had a huge day on Friday with hitting new 52 week highs. Friday's move was tipped off with a large buyer in the March 39 calls early Thursday morning when prices reversed on a large equity block hitting the tape. In our Elite chat room, I called out the action as it was hitting the tape and jumped in right behind them at $1.10. With Friday's move, the value of those calls increased by 140%. With 8.3% of shares short and 9.5 days to cover, Shares can really see a bigger lift with shorts needing to cover.


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