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Unusual Options Activity
Cisco Systems (CSCO)- Over 10,000 July $30 calls were bought for $0.60-$0.65, against open interest of 26,641 contracts. The stock is nearing a retest of the $30 resistance level. On Friday, according to a 13F filing, Bridgewater Associates (Ray Dalios) started a 500,000+ share position in CSCO.
GrubHub (GRUB)- Roughly 2,300 July $45 calls were bought for $0.80. On April 29th, they reported a 50.5% spike in Q1 revenue and active diners rose 46% to 5.60M. On May 6th, JMP Securities reiterated their outperform rating and a $55 price target.
Perrigo (PRGO)- The June $180/$200/$230 bull call spread risk reversal was put on 2,500 times for a $2.00 debit. This was done on Friday as well. Mylan is trying to takeover the smaller competitor. In the mean time, PRGO acquired Patheon’s Mexican business for $34M on May 12th.
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