Novellus Attracts Call Buyers (NVLS)

Shares of Novellus Systems, Inc. NVLS are higher on the session by 0.54%, currently trading at $25.89. The stock has been moving largely sideways for the past six months; the stock's Stochastics point to it being overbought. Options traders are buying upside call on the name today, though. A short while ago the October $26.00 call was purchased 6,000 times, on the offer; open interest on the strike is only 254 contracts. Call volume is now running at 8.41x the daily average, 89% on the offer. Novellus Systems, Inc. develops, manufactures, sells and supports equipment used in the fabrication of integrated circuits, which are called chips or semiconductors. Customers manufacture chips for sale or for incorporation in their own products, or provide chip-manufacturing services to third parties. Novellus Systems, Inc., also develops, manufactures, sells and supports grinding, lapping and polishing equipment for a range of industrial applications. For more great research like this, as well as how to play it through options…please visit Benzinga's Options & Volatility Edge and Benzinga's Cash Generator.