Current price\~ $51
Price earlier this week: \~$54
RBRK took a hit yesterday as well as many other SAAS companies after NOW’s earnings. Even before this hit however, there were many bullish signals.
Three days ago, there was a purchase of 20K+ contracts for the May 15th 63 call. This strike had an open interest of 4 and to be honest with you, I don’t see a clear catalyst between now and then given that earnings is on June 4th. However that is a >$2M bet for a strike with almost no prior OI that was 15%-20% OTM (more now after NOW’s earnings) for a time frame with no clear catalyst. That makes me think someone out there suspects something big is about to happen and I am following suit.
Positions
May 15th 60 call x 50
June 18th 60 call x 50
