Shares of Abercrombie & Fitch (NYSE:ANF) traded 9% higher yesterday, closing at $42.03. The stock has been drifting higher over the previous 9 trading days and is presently trading in a technical uptrend.
The call volume yesterday was 18,686 contracts, which is 4x the average daily volume of 4,559. The put volume was 15,938 contracts, which is 4x the average daily volume of 3,636. Heavy volume in both puts and calls indicates that traders are anticipating a big move but are uncertain of direction.
SmarTrend is bullish on shares of Abercrombie & Fitch and our subscribers were alerted to buy on September 28, 2010 at $38.72. The stock has risen 8.5% since the alert was issued.
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