Qihoo 360 Tech (QIHU) shares jumped 13.45% today, and even more considering the turnaround in yesterday's session after I put the following note out to clients in the morning:
"Qihoo 360 Tech (QIHU) the next potential China Tech name to run seeing 2,075 calls trade, bullish buying of 1,520 September $35 calls with shares at $24.60, sizable buys right off the open this morning. Qihoo 360 provides Internet and Mobile security products in China, and has a $1.4B market cap. That sector has seen active M&A in the US with cyber security a major focus moving forward, and in China it will be in huge demand due to the amount of the population moving online. It is the number 3 Internet company in China based on user base for its browser. Shares are near post-IPO lows but have found support at $24 recently, and option traders look to be positioning for an upside move once Analysts start coverage and we begin to hear more from this China growth Company."
Call volume is building each and every day in this name, so hopefully we get to a point where it is as liquid as BIDU, SINA, SOHU, NTES, YOKU, and DANG because it looks like it will be a fun one to trade going forward....
No comments:
Post a Comment