by Houghton and Atkeson 09/04/08
Option investors are buying the Clorox (CLX) Sept 65 Calls (CLXIM) and Oct 65 Calls (CLXJM) about 9,000 times today so far.
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What is impressive about this activity is:
1. Today's activity is not far off from matching the total of all open calls in all strikes and expirations for CLX and
2. The bulk of today's activity is in the September expiration, leaving only a couple of weeks for CLX to appreciate from about $62 to well above $65.
Since the July 15 market bottom, CLX has moved $10 off its low of $52 per share and is showing few signs of slowing down.
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Bryan Perry
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