Enerplus Corp (USA) (NYSE:ERF) – Shares in North American independent energy company, Enerplus Corp (USA) (NYSE:ERF), are up more than 5.0% on Monday to stand at $15.84 as of 11:45 a.m. ET. The operator of oil and gas properties in Canada and the U.S. was upgraded to ‘Outperform’ from ‘Market Perform’ at Raymond James today. Options activity on Enerplus Corp (USA) (NYSE:ERF) this morning indicates at least one strategist is positioning for shares in the name to rally to the highest level since October of 2012 during the next couple of months. The July $17 strike calls have traded around 1,100 times as of midday in New York versus previously existing open interest of 50 contracts. It looks like most of the volume was purchased at the start of the session for a premium of $0.10 each. The bullish position makes money if shares in Enerplus Corp (USA) (NYSE:ERF) climb 8.0% to top $17.10 by July expiration. Shares in the energy company have increased 35% during the past six months.
Myriad Genetics, Inc. (NASDAQ:MYGN) – Molecular diagnostic test company, Myriad Genetics, Inc. (NASDAQ:MYGN), popped up on our scanners this morning due to heavy volume in the August expiry call options. Shares in Myriad Genetics, Inc. (NASDAQ:MYGN), which rallied more than 15% last week after reporting better than expected third-quarter earnings and sales, are roughly flat on the day, down 0.15% at $33.05 as of 12:30 p.m. ET. The Aug $33 strike calls are the most actively traded by volume on Myriad Genetics, Inc. (NASDAQ:MYGN) today, with roughly 4,100 in-the-money calls in play versus open interest of 1,656 contracts. It looks like most of the calls were likely purchased earlier in the session for an average premium of $3.75 each. Call buyers may profit at expiration should shares in Myriad Genetics, Inc. (NASDAQ:MYGN) rise 11% to exceed the breakeven point at $36.75.
Caitlin Duffy
Equity Options Analyst
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