Cisco (CSCO) Weekly Range Break with Size October Calls
Cisco (CSCO) working back out of consolidation and above key volume nodes while showing relative strength, and the weekly chart very compressed with room back to 2019 highs near $57.50. CSCO most notable flow came on 6/3 when 15,000 October $55 calls were bought, now over 26,000 in open interest and trading back at the same original purchase price. CSCO has also seen plenty of opening put sales and 25,000 of the January $60 calls bought. Cisco expecting to see strength rom increased enterprise spend as well as return to office picking back up while its acceleration to software-based recurring model could re-rate shares higher.