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Today large, unusual volume of out-of-the-money call options in International Business Machines Corp (IBM) stock is serving to highlight the stock's value. No wonder, as IBM recently raised its free cash flow outlook. As a result, IBM stock looks deeply undervalued here.
IBM stock is at $199.53 in morning trading on Wednesday, Aug. 28. The stock has been rising, especially since it released strong Q2 earnings on July 24.