Ocwen Financial Corp (OCN) is a financial services holding company engaged in servicing and origination of mortgage loans through its subsidiaries. OCN is trading at $10.39 around the lower end of its 52 week range of $5.66-$38.80. Year to date the stock has underperformed the market falling by 31.46%. The stock rose to the upside in today’s session by about 7.30% or $0.71.

Early in the session a trader bought 3,520 of the OCN July 11.0 Calls for $0.40 when the stock was trading at $9.88. This order was recorded about an hour after the open on OptionHacker, and the stock rose about $0.56 to $10.44 after the trade hit the tape. Over 9,260 contracts have been traded today hinting at bullish sentiment. The OCN July 11.0 Calls have traded as high as $0.72 today making this a highly profitable trade. This stock has been trading above the Ichimoku Cloud on the intraday time frames from yesterday around 10 AM CST, continuing into today’s session.

Trade: A trader bought 3,520 of the OCN July 11.0 Calls for $0.40
Risk: $40 per 1 lot
Breakeven: $11.40

If a trader bought a 20 lot of these Calls they would have profited $640 at the highs on $800 in risk. This is a great example of a hugely profitable UOA trade.

Andrew Keene


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