Bullish Sentiment in Finisar Corp. (FNSR) After Earnings

Finisar Corp. (FNSR) is a California based telecom and network communications device and service provider that operates both domestically and with a significant international presence. At the time of this post (12:10PM CST), FNSR is currently trading at 22.11 up 8.76% on the day. The stock is higher on positive forward guidance that exceeded expectations as a part of yesterday’s Q3 earnings call. With today’s sharp break higher through 22.00 resistance on the daily chart, the stock is currently trading within the upper-middle portion of its 52 week trading range of 14.22-28.85.

Stock is ripping higher today on earnings and it appears that traders believe this trend will continue through April expiration. Earlier today a trader bought 6,668 FNSR Apr 23 Calls for $0.70. This was labeled an opening position and would express a very bullish sentiment in FNSR. With activity this strong and a great earnings release I will be looking for more upside in FNSR.

Trade: A trader bought 6,668 FNSR Apr 23 Calls for $0.70.
Risk: $70 per 1 lot
Reward: Unlimited
Breakeven: $23.70

Andrew Keene
President/Founder
KeeneOnTheMarket.com

Submit a Comment

Your email address will not be published.

Get Our Free Daily Trading Videos

Delivered To your Inbox

By submitting your information you agree to our Terms of Service and our Privacy Policy