Rovi Corporation (ROVI) is a IT services and consulting firm with a focus on digital entertainment. The company’s stock is currently trading around $23.85 in a 52 week range of $16.00-$26.55. The stock has been performing well over the past year with shares rallying over 32% in the past 12 months. Options action in ROVI during today’s trading session would suggest that traders believe this trend will continue and that ROVI will be strong through April expiration. Late in the session a trader bought 2,418 ROVI Apr 25 Calls for $0.93. This is a very large block that represents volume more than 11 times the average daily option volume in ROVI. Shares of ROVI are also trading well above the Ichimoku Cloud and the future cloud is sloping higher suggesting there is more potential upside in ROVI. We believe that this strong orderflow and bullish chart set up signals for a long position in ROVI.
Comments
simbha
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Thanks for sharing the Apr25 call volume... infact i am in @0.50 ... Hope to make decent gains. I allready have 100% on the table.. as of now ROVI is 24.40 .. looks like no resistance till 26
paulyberndt
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Their earnings per share was up over last quarter and they are in a fairly strong group under accumulation. looks very promising. Pandora is one of their competitors in that industry group.