CRTX came up on one of my options screens today as having unusual call activity. Call trading volume is 380 times the average volume of the last 5 trading days. Trading in the stock today also mirrors the bullish options stance, trading volume is 2626% higher than yesterday. The chart formation is a bullish cup w/handle formation that most of you should recognize. Based on the formation and the extremely high trading volume (for a Microcap such as this) think the stock price could reach the high it achieved of $11 in July ’09 by February ’13.
Trade Details
- The Ticker: CRTX
- Target Price: 7 per share
- The Trade
- Buy to Open Feb 2013 5 Calls at 3.10 or better
- Trade Opened: July 24, 2012
Chart courtesy Finviz. Click to open larger.
Additional Image Provided by Terrence:
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