InterOil has been rebounding, and one investor thinks the gains will intensify.
optionMONSTER’s Heat Seeker monitoring program detected the purchase of 2,000 June 62.50 calls for $3.59 and the sale of 1,000 June 62.50 calls for $7.58. Volume was below open interest at the lower strike, which indicates an existing position was closed and rolled higher.
Long calls lock in the price where a stock can be bought, letting investors cheaply control moves to the upside. Capital can also be moved from one contract to another as a rally unfolds.
— Option Monster