Unusual Options Activity: Traders bet Cisco Systems, Inc. (CSCO) Will Trade to a New 52-Week High
Traders are betting Wednesday that Cisco Systems, Inc. (CSCO) will continue to build on its recent gains. The stock hit a 52-week high of $57.53 last week, and so far today, 4,734 contracts of the May 59.50 call have changed hands, against open interest of just 105 contracts.
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About Cisco Systems Inc.
Cisco Systems, Inc. is the world's largest hardware and software supplier within the networking solutions sector. The infrastructure platforms group includes hardware and software products for switching, routing, data center, and wireless applications. Its applications portfolio contains collaboration, analytics, and Internet of Things products. The security segment contains Cisco's firewall and software-defined security products. Services are Cisco's technical support and advanced services offerings. The company's wide array of hardware is complemented with solutions for software-defined networking, analytics, and intent-based networking. In collaboration with Cisco's initiative on growing software and services, its revenue model is focused on increasing subscriptions and recurring sales.