Bulls fill their tanks with FleetCor

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.

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