Bulls pile in as Halcon surges

Energy is surging again today, and sentiment is especially bullish toward Halcon Resources.

optionMONSTER’s Heat Seeker monitoring program shows that traders have snapped up more than 8,000 July 6 calls for $0.20 to $0.30. Open interest stood at just 1,188 contracts before the session began, so new money was clearly put to work.

Long calls lock in the price where a stock can be purchased, letting investors cheaply position for a rally. They can also generate significant leverage but can expire worthless if shares stall or pull back.

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