Bulls Charge into Oracle at Key Level

Oracle leapt at the open today, and option traders followed up by piling into the name.

optionMONSTER’s Heat Seeker monitoring program detected the purchase of about 21,00 June 35 calls against open interest of 276 contracts. Most of the large blocks priced for $1.03 to $1.05.

Those long calls lock in the price where investors can buy shares in the maker of enterprise software. If it continues to climb, the contracts stand to inflate in value and generate significant leverage compared with the underlying stock price.

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