The Supreme Court Monday crushed Apple Inc’s (NASDAQ:AAPL) bid to revive its patent dispute with Qualcomm, Inc (NASDAQ:QCOM) in a lawsuit claiming infringement by Apple’s iPhones, iPads, and Apple Watches.
On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Qualcomm traded 1.6 times its average daily put volume on Monday. Calls outpaced puts by about 2:1, he added.
Check out other tech stocks making moves in the premarket.
There were buyers of 9,630 of the July 1 weekly 130 calls at $1.60 per contract on average, Khouw mentioned. The trader sees Qualcomm gaining at least 3% by Friday, he added.
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QCOM Price Action: Shares of Qualcomm rose 1.66% to settle at $127.18 on Monday.
