Unusual July Call Buy in InvenSense Inc. (INVN)
It wasn’t a big buy by any means, but an investor is making a small unusual bet on the July 3 $22 calls of InvenSense Inc. (NYSE: INVN) in very early trading today. The buyer paid 60 cents per call option and bought 500 calls.
InvenSense was mentioned positively at OTR Global, and also received a price target upgrade by Pacific Crest from $22 to $26, with an outperform rating.
INVN is rumored to have a very good shot at winning the iPhone 6 axis motion sensor contract which would result in $50 million in sales over the year.
Something is definitely in the works with INVN, as it is shooting up in early trading today, currently at $22.72, up $1.02 or almost 5%, in the first half hour. Here’s the chart on Invensense Inc. (INVN)
