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Hawk’s Nest

Unusual ITM Put Sale in Small Cap Software Name in Uptrend

by | Jul 19, 2022

Magic Software (MGIC) IV falls as 1000 February $20 puts sold to open at $2.20. An in-the-money put seller showing bullishness in a name that does not see much options action and being willing to buy $2M of stock at $20 by February expiration. MGIC is just under $1B market cap and has been trending up since the May lows and nearing a yearly value area breakout above 20.