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Hawk’s Nest

Entertainment Name Sees Call Buyers Adjust Higher into Strength

by | Oct 5, 2022

Imax (IMAX) with 3500 November $15 calls bought at $1.25 as the $14 calls adjust up. This buyer originally bought the Nov 14 calls on 9/26 and is now up 50% on the position as the stock rose from recent lows and now above the 21 EMA with room to 16.50 potentially. A good example of adjusting a winning position higher as the stock goes your way and reducing risk on the way up since you are changing the delta exposure when you roll up long calls and locking in a gain.