Riverbed Technology, Inc. (Riverbed) has developed a solution to the fundamental problems of wide-area distributed computing. The Company’s Steelhead products enable its customers to improve the performance of their applications and access to their data across wide area networks (WANs), typically increasing transmission speeds by 5 to 50 times and in some cases by up to 100 times.This morning RVBD is getting a lot of interest among upside call option buyers. The reason is simple. Technically, the stock is on the verge of breaking out above $25 on greater than normal volume. The most interesting strike is June $25 call where over 3000 contracts have traded (almost 6x open interest).
I want to follow the fast money and buy the following call spread:
- Buy to open June $25 calls- Sell to open June $30 calls
This $5 spread is going for a net debit of $1.90 or less and we have four months for this to play out.
Good luck!
