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Illumina, Inc. (NASDAQ:ILMN) – Trading traffic in Illumina calls today suggests some options players are positioning for shares in the name to rally to fresh 52-week highs by June expiration. The stock is currently down 1.5% to stand at $56.79 as of 11:30 a.m. ET, amid a down day for U.S. equities. The most active contracts changing hands on Illumina as measured by volume are the June $60 strike calls. It looks like one trader purchased 1,912 of the $60 calls at a premium of $2.35 each. These contracts make money at expiration if shares in Illumina, Inc. (NASDAQ:ILMN) jump 10% to surpass the breakeven point at $62.35. The June $62.5 strike calls also traded this morning, within two minutes of the transaction at the $60 striking price. Roughly 325 of the $62.5 strike calls were picked up in the early going at a premium of $1.45 apiece. Illumina, Inc. (NASDAQ:ILMN) shares reached a 52-week high of $58.65 earlier this week. The company is scheduled to report first-quarter earnings after the closing bell on Monday.

Caitlin Duffy
Equity Options Analyst

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