Fusion IO is reporting earnings on Apr 26. There is a lot of buzz ahead of the call including takeover chatter that Oracle could be in the market to buy them. Nice triangle consolidation pattern over the past couple months will lead to a big breakout one way or the other. I am taking a small risk on this trade, buying a small number of out of the money $29 strike call contracts.
Trade Details
- The Ticker: FIO
- Target Price: FIO per share
- The Trade
- Buy to Open May 2012 29 Calls at 1.55 or better
- Trade Opened: April 24, 2012
Chart courtesy Finviz. Click to open larger.
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