Traders are apparently looking for DuPont to report strong quarterly results tomorrow.
More than 3,700 Weekly 61 calls have been purchased this morning for $0.72 to $0.87, according to optionMONSTER’s Heat Seeker tracking system. Open interest in the strike was just 191 contracts before the trades appeared, showing that this is fresh buying.
These long calls lock in the price where traders can purchase the stock through the end of this week no matter how far it might climb. But these contracts will expire worthless if shares remain below $61 through Friday’s close.
— Option Monster