Unusual Options Activity In On Semiconductor Corporation

The Semiconductors have been on fire as of late.  Taiwan Semiconductor Manufacturing Company (TSM) is the world’s largest manufacturer of semiconductors beat analyst estimates for sales for this past quarter and signaled a rebound in the chip sector.  Memory chipmaker Micron Technology (MU) reported better-than-expected earnings and say it expects demand to recover in the second half.

Today a couple of more semiconductor companies reported earnings today.  Yesterday, Texas Instruments and Teradyne, automatic test equipment vendor reported their second-quarter earnings results. Both companies reported better-than-expected earnings and guidance.

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices to companies in the automotive, consumer, computing, industrial, communications, medical, and aerospace/defense markets.

ON Semiconductor Corporation reports earnings on Aug 5th.  Today the Smart Money bought over 15, 000 call options with a strike price at $23 that expired on Aug 16th

I would say they are off to an awesome start as the stock price jumped over a $1 today to close at $22.32.   However, there are overhead sellers at the weekly demand at $24, just above the level where these options become profit.  I tell you, the Smart Money sure does know how to pick the right levels.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

About the author: TIMM Trader
Uniting Experts & Novices for Mutual Profit!

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