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Insys Therapeutic INSY: Watching The Call Premium

|Includes:Insys Therapeutics, Inc. (INSY)

INSY is building a nice technical chart after retesting the low around $22.50. Stock is now above the 100 day MA. Volatility is up as is the call premium. Watch the Sep 20 $35 strike for a tell on sentiment. Currently this strike is 2.4% above yesterdays close. The last trade premium is $2.20 so the stock would have to move 9% in the next 30 days for holders of the call to be in the money. The bid/ask spread is $1.80/$ 2.30 as of close yesterday but if the stock reacts to the Ukraine news, I suspect the spread will increase fairly soon.

Disclosure: I'm long and have sold this Sep $35 call against it.

Stocks: INSY