Cisco (CSCO) Traders Don't See Much Upside

Options traders trading Cisco Systems (NASDAQ:CSCO) don't see much upside for the stock, as the company is trading close to its 52-week low.

CSCO is up 0.01 percent on the day to $17.30, as of 2:07 PM EDT. The networking dropped to a 52-week low of $16.97 a couple of weeks ago. The shares have trended down from near $28 last April, gapping lower on each of the last four earnings reports.

Optionsmonster noted, "Leading today's options volume is the action in the January 19 calls. A trader sold 7,500 of those calls for $0.99, taking the bid price at the time. This was against open interest of 1,896 contracts, so it was a new opening position.

"Although there was action across some other call strikes, including the January 22.50 calls, this selling at the $19 strike is the largest print and appears to be done in isolation. We also don't see any trading in the underlying stock tied to this option activity."