FleetCor Technologies has retreated following a big rally, and now the bulls are back.
optionMONSTER’s Heat Seeker monitoring system detected the purchase of 1,950 February 110 calls, most of which priced for $2.70. Volume was more than 10 times the previous open interest at the strike, indicating that new positions were initiated.
These long calls lock in the price where a stock can be purchased, providing investors with a cheap way to position for gains. The contracts allow traders to leverage a rally with only a fraction of the capital that would be risked by owning shares outright.
— Option Monster