Bullish Reversal after Options Expiration Today for GALT
GALT reported positive results for cancer immunotherapy one week ago. This was followed by algorithm trading taking the stock price lower. There is high open interest on $3, $4, and $5 calls expiring today. The price should reverse and move higher with the expiration of these calls, since the options traders accomplished what they were after to keep below the strike price and will now cover their short positions.
TipRanks data on 488,633 investor portfolios show that 8.4% more portfolios hold GALT in the last 7 days, so there is growth in the investor base. The temporary dip is from the options traders.
(See my previous Idea for summary notes on the due diligence setup.)
TipRanks data on 488,633 investor portfolios show that 8.4% more portfolios hold GALT in the last 7 days, so there is growth in the investor base. The temporary dip is from the options traders.
(See my previous Idea for summary notes on the due diligence setup.)
